Partnership will help create a financing stack for projects that save on energy costs and reduce pollution
BALTIMORE (Oct. 14, 2026) – The Maryland Department of the Environment today announced a partnership with the Maryland Clean Energy Center (MCEC) to make it easier to finance projects that can lower energy and operating costs, reduce pollution, and strengthen Maryland communities.
The partnership will help identify projects where existing funding is not enough to meet demand and develop financing options that can attract private investment. The goal is to help more projects move forward while limiting the upfront cost to building owners, businesses, local governments, and taxpayers.
The announcement was made at the 2026 Maryland Clean Energy Summit in College Park.
“Investors and investment firms want to see that the state can speak their language,” said Maryland Department of the Environment Secretary Serena McIlwain. “We want to make it easier to invest in projects that save money, create jobs, and improve the health of our communities. This partnership will help us find new ways to turn good projects into investments that deliver real benefits for Marylanders.”
The Maryland Clean Energy Center will focus on developing financing opportunities in several areas:
- Helping building owners: Develop simpler, more affordable financing options so building owners can make energy upgrades, lower costs, and meet energy efficiency goals.
- Bringing in more private investment: Identify financing tools that can use limited public dollars to attract more private capital for climate and clean-energy projects across Maryland.
- Making taxpayer dollars go further: Explore how state-owned buildings can stack utility incentives, tax credits, and low-cost financing to reduce the upfront cost of energy upgrades and lower long-term operating costs.
MCEC serves as Maryland’s green bank. A green bank is an organization that uses public dollars to help unlock private financing for projects that save energy, reduce pollution or strengthen infrastructure. In simple terms, a green bank helps make projects that can pay for themselves over time easier to afford today.
“We need to be strategic in coordinating the public and private investment needed for Maryland to achieve our climate goals. MCEC serves to design and implement financing tools that turn plans into projects and savings for Marylanders.” said I. Katherine Magruder, Executive Director of the Maryland Clean Energy Center. “Our team is pleased to be engaged in this critical effort to align resources and implement impactful solutions.”
MDE and MCEC will work with the Governor’s Climate Subcabinet, including the Maryland Energy Administration (MEA) and the Department of General Services, to coordinate financing opportunities with the state’s existing energy programs and plans to improve state-owned buildings. As stewards of Maryland’s Strategic Energy Investment Fund (SEIF) MEA provides grants and technical assistance to building owners and operators for energy efficiency, clean energy, and cost-effective electrification.
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