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The smartest way to finance clean energy that you’ve never heard of Vox.com 1 hr ago Ella Nilsen © Scott Eisen/Getty Images The GE-Alstom Block Island Wind Farm stands three miles off Block Island, Rhode Island. It is the first marine-based wind farm in US, and it’s expected to produce more electricity than Block Island needs. In the United States, financing infrastructure and clean energy projects is often contingent on the quirks of partisan dealmaking in Congress. But there may be a better way. A green bank model has been successful in several other countries. The United Kingdom’s green bank funded much of its offshore wind boom before the government sold it in 2017. (The current UK government is exploring bringing it back.) Through Australia’s green bank, the largest in the world, the country has invested in wind, solar, and hydrogen development in addition to financing the construction of energy-efficient homes.

New yorkUnited statesBlock islandRhode islandDepartment of energyDistrict of columbiaUnited kingdomWorld bankEd markeySam rickettsChris van hollenJoe bidenJennifer granholmRichard kauffmanScott eisen gettyBryan garcia