WHAT IS MCEC?
The Maryland Clean Energy Center (MCEC) is a corporate instrumentality of the state created by the General Assembly with a statute-directed mission to advance clean energy and energy efficiency products, services, and technologies as part of a specific economic development strategy.
WHO IS MCEC?
MCEC is managed by a board of directors who are appointed by the Governor. MCEC also maintains an advisory council, composed of both public and private stakeholders acting in the energy sector, who help guide the work plan of the organization.
WHAT DOES MCEC DO?
MCEC has an economic development mission to advance the adoption of clean energy, and energy efficiency products, services and technologies. MCEC engages in efforts to help:
MCEC leverages private capital and private sector capabilities to help homeowners and businesses save money on their energy bills.
MCEC is authorized by statute to facilitate public- private and public-public partnerships, and uses these unique financing capabilities to accomplish its mission. With implementation of the Maryland Home Energy Loan Program (MHELP) in 2011 and the Maryland Clean Energy Capital Program (MCAP) in 2012; MCEC is working to remove barriers associated with access to capital for residential, commercial, institutional, municipal and not-for-profit consumers who wish to make energy improvements and related capital investments.
GREEN BANK STUDY INITIATIVE
MCEC holds the unique position as Maryland's catalyst for the development and implementation of the state's clean energy economy. To that end, MCEC has initiated The Green Bank Study Initiative to study how best to scale and sustain the clean energy market within the state. MCEC released the final report at the end of 2015, and will continue to convene industry thought leaders, advocates, and policy makers within the finance, energy, and environmental space to ensure that Maryland leads in clean energy while preserving taxpayer dollars.
CLEAN ENERGY LOAN PROGRAM RESIDENTIAL PROPERTY STUDY
Residential Property Assessed Clean Energy Finance (RPACE) is a financing tool that may be enabled to facilitate clean energy and conservation measures. This lending construct relies on the idea that those measures are a public benefit, so that the related debt functions NOT as a LOAN, but can be financed in the form of a voluntary tax ASSESSMENT with an associated lien on a property owner’s tax bill. Not all stakeholders agree with this concept. Regulatory policy is necessary to frame program design, implementation, management and reporting for an RPACE program to be implemented in Maryland.
MCEC STRATEGY FOR IMPACT AND SUSTAINABILITY REPORT
In May 2017, Senate Bill 0313 (Chapter 365) was enacted and requires MCEC to:
- “establish a work plan to become self-sustaining within 5 years after the effective date of this Act using funding provided under this Act and other funding that the Center may obtain, and projected revenues from project financing activities of the Center under Title 10, Subtitle 8 of the Economic Development Article; and
- submit a report, which may be part of its annual report, on or before December 1, 2019, to the Governor and, in accordance with § 2–1246 of the State Government Article, the General Assembly on the Center’s:
i. progress since enactment of this Act to become selfsustaining with its current activities and funding and revenue levels; and
ii. recommendations for changes, including additional necessary funding, to continue on the trajectory path to reach the goal to become self-sustaining within 5 years.”
This “Strategy for Impact and Sustainability” report focuses on outlining current MCEC activities, projecting these activities forward over the next five years, and identifying a set of recommendations to become self-sustaining within the same time period. Taken together with the 2019 MCEC Annual Report, these documents fulfill the statutory requirements outlined above.