RI: Green bank legislation filed


Legislation introduced in Rhode Island (H. 7070) would create a Green Energy Revolving Fund. The fund’s resources would be available to individuals, corporations, and local and state government entities for energy efficiency projects and renewable energy projects, including solar PV projects. The fund would offer loans ranging from $2,500 to $10,000 to “individual homeowners,” and from $2,500 to $40,000 to other borrowers.

The new fund would be administered by the Rhode Island Infrastructure Bank, which would develop implementation rules. It would be funded by various sources, including a proposed state referendum for the approval of a bond issue of up to $60 million.

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