Fueling the Transition to a Clean Energy Economy

Launched in 2021, the Clean Energy Fund of Texas is building its capacity to serve as our state’s nonprofit “green bank” to provide low-cost financing to low-income and disadvantaged communities for energy efficiency, weatherization and water conservation projects. Unique among lending institutions in Texas, the fund offers low-interest, flexible clean energy improvement loans to homeowners, small businesses and community-based organizations at scale, and is positioned to deploy funds from the U.S. Environmental Protection Agency’s $27 billion Greenhouse Gas Reduction Fund, a program created by the federal Inflation Reduction Act.

To date, the Clean Energy Fund of Texas has initiated a loan fund for single-family residential solar and energy efficiency upgrades and established a partnership with the Coalition for Green Capital, a national consortium whose members share best practices, collaborate on joint initiatives and are eligible for certain Greenhouse Gas Reduction Fund resources.

With funding from the Jacob and Terese Hershey Foundation, the Clean Energy Fund of Texas is preparing to receive and leverage what could be an initial $100 million tranche of federal resources in late 2024 by building out its management teams in Houston, Austin, Dallas and south Texas, as well as acquiring a loan underwriting platform. This capacity will enable the BIPOC-led fund to establish additional loan products; expand its network of solar and energy efficiency contractors across the state; and conduct outreach within eligible communities to market its products.

“We’re thrilled to help more people save money and energy, cutting red tape and speeding up access to the green economy,” said Stephen K. Brown II, founder and Board Chair of the Clean Energy Fund of Texas and a pioneering climate strategist. “Everyone should be able to access affordable, clean energy to save money, save energy and develop the green economy.”