Governor Steve Beshear's Communications Office
Green Bank of Kentucky recognized nationally as leader in state ARRA funded energy projects

FRANKFORT, Ky.–  The Green Bank of Kentucky program has been nationally recognized for its innovative use of American Recovery and Reinvestment Act of 2009 (ARRA) funding to finance energy-efficient improvements in state buildings, where the savings are guaranteed and used to repay the loan.

State & Local Energy Report magazine ranked Green Bank of Kentucky third in a list of the Top 10 Most Exciting ARRA Funded State Energy Projects. 

“Reducing energy consumption in government buildings is an integral part of my comprehensive strategy for energy independence,” said Gov. Beshear.  “The Green Bank of Kentucky program helps state agencies implement progressive changes that will have a positive, long-lasting impact on our environment and will also save tax dollars. It’s exciting that Kentucky is receiving national attention for our efforts to lead the nation in progressive action on energy reduction and savings.”

“Reducing energy use in public facilities is a critical element of the Governor’s comprehensive strategy for energy independence,” said Dr. Len Peters, secretary of the Energy and Environment Cabinet. “By taking the lead in realizing this important element of that plan, the state Capitol campus sets an excellent example for other public facilities across the Commonwealth.”

Gov. Steve Beshear announced the launch of the Green Bank of Kentucky in September 2009.  Administered by the Finance and Administration Cabinet, the program’s mission is to promote energy efficiency in state buildings through competition for low-interest loans to reduce operating costs and energy use, protect the environment, save taxpayer dollars, promote economic development and create new green collar jobs. 

Since its inception, the program has loaned over $3.4 million for energy efficiency projects in state facilities including loans to Kentucky Department of Education, Kentucky Educational Television (KET).  Several future loans are pending. 

“The Green Bank of Kentucky offers state buildings the ability to implement energy efficient improvements at no initial cost to the taxpayer and a long-term savings of tax dollars,” said Jonathan Miller, secretary of the Finance and Administration Cabinet.  “More important, in this difficult economy, is the creation of jobs through Green Bank projects by means of education, engineering analyses and building improvements.” 

The Green Bank emerged from the Governor’s comprehensive energy plan, “Intelligent Energy Choices for Kentucky’s Future,” which established the goal of reducing projected statewide energy demand by 25 percent by 2025 through multiple strategies, including energy-efficiency measures.

The Green Bank is funded by ARRA federal stimulus dollars.  Kentucky’s Energy and Environment Cabinet (EEC) administers the funds it receives from the federal Department of Energy to operate the program  The Green Bank files monthly fiscal and programmatic reports with EEC. 

To view the article, go to http://www.stateenergyreport.com/top-10-most-exciting-arra-funded-state-energy-projects/.  To learn more about the Green Bank of Kentucky program, visit http://finance.ky.gov/greenbank/.

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