US green banks are seeking new sources of capital to keep financing clean energy projects after the Trump administration moved to claw back billions of dollars in federal funding, Bloomberg reported on Wednesday, citing US Green Bank 50.
Green banks mobilized more than $5 billion in additional private capital for clean energy investments in communities across the US in 2025, according to the inaugural impact report from US Green Bank 50. The White House did not immediately respond to a request for comment from.
The banks had been among the intended recipients of $27 billion allocated under the Inflation Reduction Act's Greenhouse Gas Reduction Fund. The program was designed to expand financing for clean energy projects, particularly in lower-income and underserved communities that can face limited access to conventional bank financing.
The Trump administration moved to recover the federal funds President Trump returned to office for a second term, triggering a prolonged legal and political dispute over the money. The funding loss has prompted green banks to seek alternative sources of capital, including state governments, philanthropic organizations, commercial banks, private lenders, credit unions, utilities and corporations.
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