Smaller, regional banks and credit unions are increasingly looking to help homeowners finance solar installations in a sign of growing recognition of the opportunities in clean energy finance.
In the Midwest, Iowa-based Decorah Bank & Trust is among the latest to begin marketing loans for solar and other clean energy projects. The community bank recently relaunched a digital subsidiary called Greenpenny to serve residential and commercial customers in Iowa, Illinois, Missouri, Minnesota and Wisconsin.
It joins longtime Twin Cities clean energy lender the Center for Energy and Environment and a handful of credit unions and other community banks offering products in a space traditionally dominated by larger, national firms.
Clean energy advocates are hopeful the availability of local lenders will increase options for borrowers and…