Jay Lurie, DC Green Bank’s Chief Investment Officer, recently engaged in a conversation with Global Finance Magazine about climate change, finance sector, and DC Green Bank’s role in building the Clean Economy.
Here is an excerpt from the interview, and click below to read the full conversation –
Global Finance Magazine: What are your target sub-sectors and how do you manage to foster private capital in these areas?
Lurie: DC Green Bank focuses on solar energy and storage, such as on rooftops and parking canopies; green buildings driven by compliance needs, as they are responsible for the majority of carbon emissions in the District; stormwater resilience; and clean transport, such as electric vehicles. The size of projects depends on the location and context: rooftop solar projects in DC require smaller financing commitments compared to much larger solar or wind projects in rural New York State.
Green banks may also play a role in financing the expansion of DERs, or distributed energy resources, such as micro-grids, which are designed to reduce the need for large transmission lines. Costs of solar and batteries keep coming down, which accelerates the trend.