WHAT IS MCEC?
The Maryland Clean Energy Center (MCEC) is a corporate instrumentality of the state, created by the General Assembly in 2008, with a statute-directed mission to advance clean energy and energy efficiency products, services, and technologies as part of a specific economic development strategy. MCEC works to implement financing solutions that catalyze the growth of business, create jobs, and make clean energy technologies, products and services affordable and accessible for Maryland consumers.
WHO IS MCEC?
WHAT DOES MCEC DO?
MCEC serves as a statewide green bank with a mission to transform the energy economy in Maryland by increasing clean energy jobs, driving commercialization of technological innovations, and enabling consumer adoption of clean energy products and services. MCEC facilitates access to capital through leveraged or direct investment and operates financing programs targeted to serve various consumer audiences and underserved communities. The Center provides specialized procurement and technical support in order to facilitate and expedite project implementation.
MCEC engages in efforts to help:
MCEC is authorized by statute to facilitate public- private and public-public partnerships, and uses these unique financing capabilities to accomplish its mission. MCEC also leverages private capital and private sector capabilities to help homeowners and businesses save money on their energy bills.
With implementation of the Clean Energy Advantage (CEA) Loan Program in 2022 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. In addition, MCEC oversees the Maryland Commercial Property Assessed Clean Energy (MDPACE) Program.
In keeping with its mission to support tech to market commercialization of energy technologies emerging from universities and labs in the state, MCEC also operates the Maryland Energy Innovation Accelerator (MEIA).
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.