Government Energy Policy, Business and Technology

The Green Bank — Government Contractors Will Want to Watch This Trend Carefully!

Renewable Energy World: A bank located in the U.S. Northeast has drawn the attention of state officials nationwide. The three-year-old bank, however, is not your typical loans, checking account and cash services bank.

In the aftermath of 2012’s Superstorm Sandy, the second-costliest hurricane in U.S. history, New Jersey suffered from debilitating damages to residential, commercial and public property. Just as devastating were the losses to critical infrastructure because of power outages. When the power outages in water and wastewater treatment plants occurred, it resulted in the dumping of millions of gallons of raw sewage into state waterways.

State officials quickly realized the importance of making sure vital infrastructure is protected in the event of future power failures. Their efforts led to creation of the nation’s first Energy Resilience Bank.

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