Loss of jobs, revenue seen

Lawmakers urged to rethink budget plan

HARTFORD — Legislative proposals to use money from Connecticut’s Green Bank and energy efficiency programs to balance the state’s budget could translate into thousands of jobs lost and millions of dollars in unrealized tax revenue, according to analysis by a New England environmental group.

Current plans call for the Connecticut Green Bank’s $27.5 million budget to be cut completely and for $50 million to be taken from the state’s energy efficiency programs in each of the next two years, which amounts to 25 percent of funding.

An analysis by the Arcadia Center predicts raiding the energy-related funding would cost the state 5,200 jobs and nearly $17 million in lost tax revenue. The group’s analysis was presented at a news conference Monday at the Legislative Office Building held by environmentalists and renewable energy advocates.

“If these cuts go through, it will be devastating,” said WillIam Dornbos, advocacy director and senior attorney with the Arcadia Center.

Chris Lenda owns a Branford business, Aegis Solar, which installs photovoltaic systems on homes and at businesses. Lenda said his company, which employs 25 people, and others like it “rely heavily on funding for renewable energy in Connecticut.”

“Without that funding, companies like mine would simply leave the state for

other states or wouldn’t exist at all,” he said. “Raiding clean energy funding here in the state is the equivalent of chopping down the apple tree and then wondering why there’s not enough apples.”

Brian Garcia, president and chief executive officer of the Connecticut Green Bank, said if the proposed budget raids the full $27.5 million. It would effectively put the quasi-public agency out of business. The Green Bank uses public funding that comes from a charge on Connecticut ratepayers’ electric utility bills to leverage private sector capital needed to finance a number of renewable energy projects.

Garcia said the Green Bank has attracted more than $910 million in private investments for energy projects in the six years it’s been in existence.

“These facts, this demonstrated track record of providing tangible value to the citizens and businesses of Connecticut represents anything but a luxury,” he said.

Joel Gordes, a West Hartford-based energy consultant, said the state Legislature raided energy funds in order to balance the budget in 2003 and 2009.