This briefing covers ways a public bank could accelerate community and utility-scale renewable energy for a just climate transition in Los Angeles. Paired with new federal incentives through the Inflation Reduction Act, a public bank could substantially reduce costs for the Los Angeles Department of Water and Power (LADWP), the city’s publicly-owned utility while returning a profit to LA taxpayers.
The briefing also provides an overview of recent developments in utility-scale renewables finance and shows how the Los Angeles public bank could fill essential gaps in the financial system to support large-scale renewable energy projects. This support would significantly reduce the cost of the City’s energy and ensure that savings from the green transition benefit LA workers and taxpayers.
To demonstrate the financial impact of such programs, JFI/Berggruen presents projections of the “levelized cost of energy” (LCOE) for utility-scale green deployments. The analysis projects substantial reductions in LCOE compared to current policies, translating into tens of thousands of dollars in savings over the lifetime of each project. The briefing examines how the LA public bank could generate cost reductions in community solar, utility-scale solar, onshore wind, offshore wind, and other green energy projects.
Learn more about the transformative potential of public banking in Los Angeles to drive a sustainable and equitable energy transition by downloading the briefing here.