How a Green Bank Could Help Pennsylvania Affordably Meet Its Clean Power Plan Goals:
Union of Concerned Scientists, February 4, 2016
HARRISBURG (February 4, 2016) –
Creating a “green bank” in Pennsylvania could help the state affordably
comply with new federal power plants rules by leveraging $135 million in
public funds into $4.2 billion in private investments in renewable
energy and energy efficiency over the next 15 years, according to a new
analysis "Green Banks: Transforming Clean Energy Finance in
Pennsylvania." In addition, a green bank in Pennsylvania could support
the deployment of 780 megawatts of new solar power, save homes and
businesses $375 million on their annual electricity bills due to energy
efficiency investments, and reduce Pennsylvania’s carbon emissions by
4.8 million tons per year—the equivalent of taking more than 930,000
cars off the road—or 11 percent of the emission reductions that
Pennsylvania must achieve to comply with the Clean Power Plan
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