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Green Bank money could be restored in state budget

Part of the proposed state budget being reconsidered is taking about $27 million in ratepayer funds from the Connecticut Green Bank.  Officials say that would effectively shut down the operation.  The funding comes mostly from a longstanding fee on electric bills while some comes from proceeds from the Regional Greenhouse Gas Initiative. 

 

For every dollar brought in, it's leverage into $8 of private capital. 

 

Among the beneficiaries of the Connecticut Green Bank is Newtown -based Curtis Packaging.  Vice President of Operations Kerry Brown says they've been able to convert their operation to alternative energy sources and are now carbon neutral. 

 

5th District Congresswoman Elizabeth Esty has proposed a bill to create a national Green Bank to fund clean energy and energy efficient projects.  It's based on a model in Connecticut, which just marked 5 years in existence.  She says it's not a choice between protecting the environment or protecting jobs, it can be both. 

 

The Senate companion bill, introduced by Chris Murphy, would help fund clean energy and energy efficient projects.

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