Potomac — The County Council unanimously approved Bill 18-15, sponsored by Councilmember Roger Berliner, which creates the Montgomery County Green Bank. A green bank provides low-cost financing to increase residential and commercial solar, support energy efficiency improvements, and kick-start new green technologies. The June 30 vote was unanimous (8-0) among the councilmembers present. Councilmember Sidney Katz was absent on other business.
Bill 18-15 authorizes county government to designate a green bank to promote investment in clean energy technologies. It also specifies the processes to designate a nonprofit corporation to function as a green bank, establishes a Green Bank Work Group and generally defines the nature and powers of a green bank.
Montgomery’s bank will be funded initially by revenue from the merger settlement with Pepco-Exelon to the tune of $20 million.
The full staff report on Bill 18-15 can be found at:
http://montgomerycountymd.granicus.com/MetaViewer.php?view_id=6&event_id=1729&meta_id=86054.