Green banks, which utilize public funds to encourage private investments in renewable energy and sustainable projects, have grown from one to 20 in the U.S. between 2011 and 2020, channeling $7 billion into renewable energy initiatives.
Furthermore, the majority of U.S. consumers showed a preference for financing solar panel purchases through their banks rather than through installation companies, highlighting a trust in financial institutions to support their green initiatives​.
The sector is poised for continued growth as financial institutions develop more targeted, climate-linked financial products and educate consumers on their benefits.
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