U.S. green banks financed $12.4 billion in clean energy and climate projects over 2024 and 2025, according to a new impact report from the Green Bank 50 coalition. The group, which represents 56 green banks and related organizations, collected data from 48 banks and found they put about $1.4 billion of their own capital into more than 40,000 projects, with another $11 billion coming from private partners.
The work continued even as the Trump administration terminated the Biden-era Greenhouse Gas Reduction Fund and Solar for All programs. Many banks had planned to use those federal grants for higher-risk projects, such as solar for low-income households and affordable housing electrification. Some of those plans have been curtailed, and the Green Bank 50 acknowledges that some projects are now out of reach without low-cost federal money.
Courts have ruled the funding freezes unlawful, but the administration has not released the money and is expected to appeal. In the meantime, green banks are turning to commercial banks, credit unions, corporate funders, and philanthropies to fill gaps. As one coalition leader put it, they are making a virtue out of necessity by focusing on deals that private capital can eventually take over after green banks prove they work. The result is a scaled-down but still active green bank sector, financing projects like a community solar array in New Orleans and low-income solar loans in Maryland.Strict JSON only, no markdown fences{