The Green Bank uses ratepayer money to block private competition, offering below-market rates that crowd out efficient private capital. Lost $30 million. All funded by mandatory charges on every Connecticut ratepayer's utility bill.
The Bottom Line: Connecticut ratepayers fund a system that uses below-market, subsidized financing to block efficient private capital—crowding out competition and creating a state-sponsored monopoly that wastes money and benefits Wall Street investors over Connecticut families.
Your utility bill funds a system designed to eliminate private competition. The Connecticut Green Bank was created to attract private capital into clean energy markets. Instead, it uses ratepayer subsidies to offer below-market financing that private companies can't match—crowding out efficient private capital and creating artificially attractive deals for municipalities that ultimately cost ratepayers more.
Markets like multifamily residential solar are fully mature with abundant private capital actively seeking projects. There is no market failure, no financing gap, no need for public intervention.
Yet CGB floods these markets with ratepayer subsidies anyway—not to serve an economic purpose, but to justify its own bureaucratic existence.
This is not economic development. This is government waste—a quasi-public bureaucracy squandering ratepayer funds to maintain its own relevance in markets that no longer need it.
Inclusive Prosperity Capital (IPC) is a nonprofit created by the Green Bank that functions as its financing arm—but operates outside public accountability.
Connecticut ratepayers lost $30 million when PosiGen filed bankruptcy in November 2025—a direct result of reckless investment and lack of oversight.
The Green Bank's statutory mandate is to "crowd in" private investment. Instead, it crowds out competitive private companies with proven track records in Connecticut.
| Private Company | Connecticut Activity | Status |
|---|---|---|
| Solar Developer 1 | 50,000+ CT installations, Q3 2025 revenue leader | Blocked from RRES |
| Solar Developer 2 | 100+ CT commercial projects, Durham SCEF | Blocked from Solar MAP |
| Solar Developer 3 | Windsor (2024), Stafford (2025) projects | Blocked from Solar MAP |
| Solar Developer 4 | Housing Authority project, private capital committed | Blocked from RRES |
| Solar Developer 5 | Major portfolio acquisition Dec 2025, active CT buyer | Blocked from SCEF |
Private companies offering market-rate financing are undercut by ratepayer subsidies. CGB uses $24-26M/year in mandatory electric bill charges to offer artificially low financing rates that private lenders can't match without subsidies—blocking efficient private capital and creating a state-sponsored monopoly.
The U.S. Supreme Court ruled that state agencies controlled by active market participants are NOT immune from federal antitrust laws unless they are actively supervised by the state.
The Connecticut Green Bank fails both tests:
This is not a policy debate about clean energy. This is about protecting ratepayers from a quasi-governmental monopoly that wastes public funds and blocks private competition.
View Legislative Solutions →