Green and Renewable Energy Efficiency for Nonprofits (GREEN) Loan Program and Fund - Establishment

HB 695 establishes the Green and Renewable Energy Efficiency for Nonprofits (GREEN) Loan Program to provide no-interest loans to 501(c)(3) nonprofit organizations in Maryland. The program, managed by the Maryland Clean Energy Center, funds the planning, purchase, and installation of qualifying renewable energy systems (like solar panels) and energy efficiency improvements (such as HVAC upgrades or window replacements). Eligible projects must support Maryland’s environmental and greenhouse gas reduction goals. The program is funded through a new special nonlapsing loan fund, with interest earnings reinvested into the fund.