Nearly 46,000 workers across 4,500 companies propel Connecticut’s clean economy, according to the state’s fifth Clean Energy Industry Report from the Joint Committee of the Energy Efficiency Board and the Connecticut Green Bank Board of Directors
Hartford, CT (May 20, 2025) – Connecticut’s clean energy industry in 2023 contributed more than $7.01 billion to the state’s Gross Regional Product (GRP) while jobs in this sector grew by 3.9 percent. This job growth accounted for 7.5 percent of Connecticut’s total statewide employment growth between 2022 and 2023, significantly outpacing the state’s overall employment growth, according to the recently released 2024 Connecticut Clean Energy Industry Report. The sector has nearly surpassed 46,000 workers, climbing above pre-Covid-19 employment levels, and the state has more than 4,500 companies working in the clean energy sector. The energy efficiency subsector remains the largest technology sector in the state’s clean energy industry and was the primary driver of job growth.
This is the fifth industry study produced by the Connecticut Green Bank, Department of Energy and Environmental Protection, Eversource, and United Illuminating, Southern Connecticut Gas and Connecticut Natural Gas, subsidiaries of Avangrid Inc., operating through the Joint Committee of the Energy Efficiency Board (EEB).
“The clean energy industry continues to grow its impact in our state, adding well-paying jobs and bolstering the state’s economy. While the numbers are important, we must also mention the value that these workers and companies provide to our families, businesses, and communities, especially those in the energy efficiency subsector who are helping people save money and reduce the energy cost burden,” said Brenda Watson, Executive Director at the North Hartford Partnership and Chair of Connecticut Green Bank and Energy Efficiency Board joint subcommittee. “Despite positive trends in employment growth, challenges remain in filling skilled labor positions and bringing females and historically marginalized groups into the clean energy sector. As advocates, we need to prioritize these areas of potential growth and continue to support programs that sustain this demand for workers.”
This analysis from BW Research shows employment divided into five major technology sectors, their component sub-technologies, and industry or value chain segment. The five sectors are: energy efficiency; clean energy generation; alternative transportation; clean grid and storage; and clean fuels. All employment data presented is based on the 2024 United States Energy and Employment Report (USEER).
Some other key findings include:
- Clean energy job growth in Connecticut since last year’s Clean Energy Industry Report was the strongest it has been since 2015.
- Connecticut’s clean energy employment growth outpaced that of other Northeastern states between 2022 and 2023.
- Connecticut’s clean energy industry expanded across all technology sectors from 2022 to 2023, and the fastest-growing sectors – Alternative Transportation (16.3 percent), Clean Grid and Storage (7.6 percent), and Clean Energy Generation (7.1 percent) – outpaced national growth rates.
- Between 2022 and 2023, clean energy employment grew across all value chain segments in Connecticut, with the largest job gains in Construction, Other Services, and Professional and Business Services.
- The clean energy economy accounted for 2.4 percent, or $7.01 billion, of Connecticut’s GRP in 2023. This is a 3.1 percent increase from 2022, which is a similar increase to the prior year (3.2 percent).
- As of 2023, more than 4,500 clean energy companies, firms, and establishments exist within Connecticut.
To access the full report, please visit the Green Bank’s societal impact page or download directly. A webinar to discuss the findings will be held on Friday, May 30 at 1 pm. To register please visit https://attendee.gotowebinar.com/register/1955387319245862234.
About the Joint Committee
Pursuant to Section 16-245m(d)(2) of the Connecticut General Statutes, the Joint Committee shall examine opportunities to coordinate programs and activities contained in the plan developed under Section 16-245n(c) (i.e., Comprehensive Plan of the Green Bank) with the programs and activities contained in the plan developed under Section 16-245m(d)(1) (i.e., Conservation and Load Management Plan), and to provide financing to increase the benefits of programs funded by the plan developed under Section 16-245m(d)(1) so as to reduce the long-term cost, environmental impacts, and security risks of energy in the state.
To support the Joint Committee, the following is a principal statement to guide its activities: The Energy Efficiency Board and the Connecticut Green Bank have a shared goal to implement state energy policy throughout all sectors and populations of Connecticut with continuous innovation towards greater leveraging of ratepayer funds and a uniformly positive customer experience.
Connecticut Green Bank Launches 13th Green Liberty Notes Offering
/in Investment Solutions, NewsPopular crowdfunding model continues to deliver economic and environmental returns
Hartford, CT (May 21, 2025)—CGB Green Liberty Notes LLC, a subsidiary of the Connecticut Green Bank, today announced the launch of its 13th award-winning offering. To date, more than $3.3 million has been raised from investors across 43 states. Over 60 percent of original investments have been $1,000 or less, and the majority of investors are from Connecticut. The crowdfunding campaign is made possible in partnership with Honeycomb Credit, an online marketplace that connects investors with impact-driven opportunities.
“Green Liberty Notes support our local economy by enabling investors from Connecticut and beyond to directly back energy efficiency for small businesses. We’re excited to continue with our 13th offering and invite investors to be part of a transformative effort that drives growth and resiliency within our communities,” said Bryan Garcia, President and CEO of the Connecticut Green Bank.”
Green Liberty Notes are designed for accessibility, featuring a low $100 minimum investment, a one-year term, and a simple online purchase process. The previous Green Liberty offering, issued through the Connecticut Green Bank’s partnership with Honeycomb Credit, set a new record with more than 90 investments at or below $1,000.
Investments in the Green Liberty Notes offering support Eversource’s Small Business Energy Advantage (SBEA) program, which enables small businesses in Connecticut to lower their energy expenses through efficiency enhancements and interest-free loans. The benefits associated with the SBEA program have been reviewed and verified by Kestrel for their environmental impact.
The previous Green Liberty offering marked the tenth consecutive to surpass its maximum raise amount. Investors are encouraged to act quickly to secure their participation in this latest offering.
For more information or to invest, please visit www.greenlibertynotes.com.
Clean Energy Industry Contributes More Than $7 Billion to State’s Gross Regional Product as Employment Growth Continues
/in jobs, NewsNearly 46,000 workers across 4,500 companies propel Connecticut’s clean economy, according to the state’s fifth Clean Energy Industry Report from the Joint Committee of the Energy Efficiency Board and the Connecticut Green Bank Board of Directors
Hartford, CT (May 20, 2025) – Connecticut’s clean energy industry in 2023 contributed more than $7.01 billion to the state’s Gross Regional Product (GRP) while jobs in this sector grew by 3.9 percent. This job growth accounted for 7.5 percent of Connecticut’s total statewide employment growth between 2022 and 2023, significantly outpacing the state’s overall employment growth, according to the recently released 2024 Connecticut Clean Energy Industry Report. The sector has nearly surpassed 46,000 workers, climbing above pre-Covid-19 employment levels, and the state has more than 4,500 companies working in the clean energy sector. The energy efficiency subsector remains the largest technology sector in the state’s clean energy industry and was the primary driver of job growth.
This is the fifth industry study produced by the Connecticut Green Bank, Department of Energy and Environmental Protection, Eversource, and United Illuminating, Southern Connecticut Gas and Connecticut Natural Gas, subsidiaries of Avangrid Inc., operating through the Joint Committee of the Energy Efficiency Board (EEB).
“The clean energy industry continues to grow its impact in our state, adding well-paying jobs and bolstering the state’s economy. While the numbers are important, we must also mention the value that these workers and companies provide to our families, businesses, and communities, especially those in the energy efficiency subsector who are helping people save money and reduce the energy cost burden,” said Brenda Watson, Executive Director at the North Hartford Partnership and Chair of Connecticut Green Bank and Energy Efficiency Board joint subcommittee. “Despite positive trends in employment growth, challenges remain in filling skilled labor positions and bringing females and historically marginalized groups into the clean energy sector. As advocates, we need to prioritize these areas of potential growth and continue to support programs that sustain this demand for workers.”
This analysis from BW Research shows employment divided into five major technology sectors, their component sub-technologies, and industry or value chain segment. The five sectors are: energy efficiency; clean energy generation; alternative transportation; clean grid and storage; and clean fuels. All employment data presented is based on the 2024 United States Energy and Employment Report (USEER).
Some other key findings include:
To access the full report, please visit the Green Bank’s societal impact page or download directly. A webinar to discuss the findings will be held on Friday, May 30 at 1 pm. To register please visit https://attendee.gotowebinar.com/register/1955387319245862234.
About the Joint Committee
Pursuant to Section 16-245m(d)(2) of the Connecticut General Statutes, the Joint Committee shall examine opportunities to coordinate programs and activities contained in the plan developed under Section 16-245n(c) (i.e., Comprehensive Plan of the Green Bank) with the programs and activities contained in the plan developed under Section 16-245m(d)(1) (i.e., Conservation and Load Management Plan), and to provide financing to increase the benefits of programs funded by the plan developed under Section 16-245m(d)(1) so as to reduce the long-term cost, environmental impacts, and security risks of energy in the state.
To support the Joint Committee, the following is a principal statement to guide its activities: The Energy Efficiency Board and the Connecticut Green Bank have a shared goal to implement state energy policy throughout all sectors and populations of Connecticut with continuous innovation towards greater leveraging of ratepayer funds and a uniformly positive customer experience.
Contractor Networking Event Presentation – Spring 2025
/in Building Contractors, Contractor Announcements, Energy Storage Solutions, Home ContractorsGreen Bank C-PACE Interest Rate Changes
/in Building Contractors, Contractor AnnouncementsWe have made updates to the Green Bank C-PACE interest rates. Please see below for more information, and click HERE to view the updated rates.
Please note that the rate changes outlined below and linked above are for Connecticut Green Bank-originated C-PACE projects only. They are not reflective of the rates provided by other C-PACE capital providers.
NGEN Update for Solar PV Projects
/in Contractor Announcements, Home ContractorsWe have recently adjusted the upfront requirements when submitting a Smart-E job in NGEN for Solar PV projects. You will not be required to submit the Utility Interconnect Application (the RRES application) when submitting a Smart-E Job, it’s now noted as optional (see screenshot).
You can still provide us with the Utility Interconnect Approval letter to receive an additional disbursement (review more about that here), but we request that you submit this in a new section (NOT in the COC tab).
To do this: open the Job in NGEN, scroll to the “Documents” area and upload the Interconnect Approval letter by selecting “Upload Document” then select “Choose File” in the pop-up window (green arrows in screenshot), then close the pop-up box and select “Save Changes” (orange arrow in screenshot). This will save that document to the portal and notify the Smart-E team to review that document, we will then notify the lender to release an additional disbursement.
The Meadow Ridge Solar Committee Started with a Mission
/in C-PACE, Customer StoriesGovernor Lamont Announces Several Connecticut Correctional Facilities Now Operating on Solar Energy, Creating Cost Savings While Reducing Emissions
/in Community Solutions, Investment Solutions, NewsBecause correctional facilities operate nonstop 365 days a year, they are among the largest consumers of energy of all state-owned facilities.
“Installing solar energy systems at correctional facilities is a way that we can deliver cost savings in the operations of state government while also reducing our carbon footprint,” Governor Lamont said. “Correctional facilities provide a necessary public safety service for our communities, and their around-the-clock operations require a significant amount of energy to function. I am glad that we could get these projects completed and that our correctional facilities can begin taking advantage of the benefits of solar energy.”
The seven systems will collectively deliver 8.3 megawatts of clean, renewable energy to the correctional facilities, saving the state more than $11 million in energy costs over the lifetime of the panels and reducing carbon emissions by the equivalent of approximately 5,000 metric tons annually.
The projects are a collaboration between the Connecticut Department of Correction (DOC) and the Connecticut Department of Administrative Services (DAS), along with the Connecticut Green Bank and TotalEnergies, a global integrated energy company. They were financed by the Connecticut Green Bank in partnership with TotalEnergies. The company will own, operate, and maintain the systems through a power purchase agreement executed by DAS.
“With our 13 facilities operating on an around the clock basis 365 days a year, we are always looking for ways to reduce our energy costs,” DOC Commissioner Angel Quiros said. “The fact that we can do so by utilizing a clean energy source is an added bonus.”
“These seven projects are a win-win for the state,” DAS Commissioner Michelle Gilman said. “They will reduce our carbon footprint and save significant money for taxpayers. This has been a collaborative effort, and we look forward to building on this progress with other state agencies in the years to come.”
“Solar projects of this size and scope have significant benefits, and take time and coordination to complete, which makes it necessary to gather an excellent team of state and private capital partners,” Bryan Garcia, president and CEO of the Connecticut Green Bank, said. “Thanks to the attention and collaboration of everyone involved, the Green Bank was able to use our Solar MAP process to streamline each step of going solar, from design to contracting to financing and energization. Building on this success, we will continue to work together to finalize more projects in our pipeline and help the state meet our climate goals while reducing energy costs.”
“The successful completion of the DOC’s seven solar installations demonstrates large-scale, distributed clean energy is both feasible and reliable,” Eric Potts, vice president of TotalEnergies Renewables USA, said. “These projects provide significant cost savings for the DOC while directly contributing to the state’s 2040 zero-carbon electricity target. TotalEnergies is proud to once again play a vital role in the public sector initiatives that drive sustainable outcomes.”
The correctional facilities utilizing these solar energy systems include:
Susan Auslander, Meadow Ridge Solar Committee Honored by the Connecticut Green Bank
/in Building Solutions, Community Solutions, News“It is with great excitement that I can recognize Susan Auslander with the President’s Award for 2024,” said Bryan Garcia, President and CEO of the Connecticut Green Bank. “Susan’s leadership is a great example of the Green Bank’s vision for a planet protected by the love of humanity.”
“Our Meadow Ridge solar project has been a fun learning experience for my fellow residents and me. Even into our 90s we can continue to learn and innovate,” said Susan Auslander, chair MR Residents’ Solar Committee and Secretary, Residents Association Board. “May the Green Bank’s remarkable achievements over a 10-year period continue to inspire more solar projects around our Nutmeg State.”
State Sen. Ceci Maher (D-26) and State Rep. Anne Hughes (D-135) also honored Susan and her fellow Solar Committee members for their efforts.
“Susan Auslander’s hard work and perseverance resulted in millions of dollars of energy cost and emissions savings. Susan’s impact on Meadow Ridge, both from the solar success side and a modeling of community advocacy and leadership, is evidence that all of us can take action and enact change,” said Sen. Maher. “It’s an incredible accomplishment. On behalf of the state legislature, I’d like to thank her for her leadership and achievement as she proudly accepts this award.”
“I am truly humbled to represent the determination of this community, led by resident Susan Auslander and her allies at Meadow Ridge, and to participate in meaningful policymaking at the state level to address the climate crisis and renewable energy transition,” said Rep. Anne Hughes. “We got to partner with the Green Bank and demonstrate the possibilities and opportunities of collaboration, funding resources and the will to decarbonize and save energy costs for the community. This is how good government works for the community.”
“Every step of this process—from our first discussions with the Solar Committee to flipping the switch in December—has been collaborative. We at Meadow Ridge are grateful for the vision and tenacity of Susan and the Solar Committee, and for the essential role the Connecticut Green Bank played in bringing this project to life,” said Meadow Ridge Chief Operating Officer Brett Mehlman.
2024 Green Bank Award Winners Announced
/in Building Solutions, Community Solutions, Contractor Solutions, Home Solutions, NewsGreen Liberty Investment Offerings Continue to Exceed Maximum Raise Amount Thanks to Citizen Demand
/in Investment Solutions, NewsTen consecutive raises have exceeded their maximums, more than $3.3 million has been raised cumulatively from investors in Connecticut and across the country
Hartford, CT (March 24, 2025) – CGB Green Liberty Notes LLC, a subsidiary of the Connecticut Green Bank, successfully closed the twelfth Green Liberty offering, surpassing its maximum raise amount for the tenth consecutive time. More than 90 investments were received in original increments of $1,000 or less, a new record. To allow for more investors to participate in this innovative and certified green investment opportunity, this was the sixth offering that featured a maximum raise limit of $350,000. In total, more than $3.3 million has been raised from Connecticut citizens and nationwide investors in support of small businesses improving their energy efficiency and reducing their energy costs. This was the first issuance offered through the Green Bank’s partnership with Honeycomb Credit using their online crowdfunding website.
Green Liberty Notes, which are offered quarterly, can be purchased with a minimum investment of just $100. To date, more than 60% of original investments have been $1,000 or less, and more than half of the investors have been Connecticut residents. In total, individuals from 43 states have invested in Green Liberty Notes.
Investments in the Green Liberty offering support Eversource’s Small Business Energy Advantage (SBEA) program, which enables small businesses in Connecticut to reduce their energy costs through efficiency upgrades and zero-interest loans. The Connecticut Green Bank and Amalgamated Bank (America’s largest B Corp bank) recently celebrated the purchase of more than $100M of SBEA loans, driving environmental benefits and economic growth in local restaurants, town halls, community organizations, and more.
As a result of the climate benefits associated with the SBEA program, this Green Liberty offering has been reviewed and designated a Green Bond by Kestrel, a leading provider of external reviews for green, social and sustainability bond transactions and a Climate Bonds Initiative Approved Verifier.
“The overwhelming success of these Notes is a testament to the desire of investors to support the green economy while earning a secure, competitive return on their investment. We are excited to see more people from Connecticut and investors from more than 40 states across the country getting involved in these offerings,” said Bert Hunter, EVP and Chief Investment Officer of the Connecticut Green Bank. “In addition to these quarterly offerings, we are looking into other opportunities to help engage and support our communities and to make available to our investors.”
For more information about investment opportunities, please visit invest.ctgreenbank.com.