The Green Bank

I read an interesting article on an effort in the US to Charter a “Green Bank“. What’s also interesting is the author of the article sits on Intel’s Board of Directors – Reed Hundt. The goal of the Green Bank is to: create new clean energy sources, grows jobs, reduce CO2 emissions, and decrease foreign oil dependence – all through funding renewable generation and other clean energy initiatives. Apparently, many of the renewable energy efforts projects that were underway before the financial crisis have stalled due to lack of financing. The Green Bank could jump start those existing projects and serve as a financial catalyst for others. On the surface, this Green Bank idea seems like a great way to funnel capital to initiatives that can help the economy and the environment.