Rhode Island Governor Announces Green Bank

Today, I joined clean energy and energy efficiency supporters in Rhode Island to hear the details of RI Governor Gina Raimondo’s and General Treasurer Seth Magaziner’s plans for the Rhode Island Infrastructure Bank (RIIB).

The RIIB is a proposal from the Governor’s FY2016 Jobs Budget and will be a centralized hub for existing and new green infrastructure financing initiatives, focusing on energy efficiency and renewable energy projects. Governor Raimondo and Treasurer Magaziner described how the initiative will help create jobs in Rhode Island, while improving energy efficiency and make the state more economically competitive.

"My budget is routed in the core belief that everyone who works hard should have chance to make it in Rhode Island, and that is what this proposal is all about," said Raimondo in a press statement issued following the event. "We have an opportunity to rebuild Rhode Island's economy and reduce our dependency on energy. This is a smart policy that moves the state forward."

According to the press statement, the bank will serve as a centralized hub for existing and new green infrastructure financing initiatives, with a focus on energy efficiency and renewable energy projects that will save residents, businesses and municipalities' money on their energy bills.

NECEC supports the Rhode Island Infrastructure Bank initiative, and looks forward to working with Rhode Island's leadership team to assure that it is effective in creating opportunities to grow the state’s clean energy economy.

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Charity Pennock

Charity is NECEC's Industry Research and Development Program Manager and Rhode Island State Coordinator.