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President Joe Biden has an aggressive plan to decarbonize the U.S. economy. But his administration hasn’t yet provided many specifics on how it plans to leverage public funding to drive greater private capital investment in the green infrastructure needed to reach its goals.
Bryan Garcia, president and CEO of the Connecticut Green Bank, thinks that a modern, green-tinged version of Liberty Bonds, the U.S. government war bonds from World War I and World War II, could be a valuable model for the federal government — particularly if Connecticut’s recent experience with it can be replicated at a national scale.
Connecticut Green Bank’s $25 million green “liberty” bond issuance on Thursday, its latest to support rooftop solar and energy efficiency projects in the state, was oversubscribed by nearly a factor of four, Garcia said.
