PROVIDENCE – City officials unveiled Providence’s first-ever "green" revolving fund on Monday, a new program that will allocate municipal dollars to renewable energy upgrades and energy efficiency projects for city-owned buildings.
Mayor Brett P. Smiley framed the creation of the revolving fund as a response to federal rollbacks on climate protections.
“In a moment where the federal administration continues to roll back climate protections, it is critical that local government steps up to protect our neighborhoods from the tangible impacts of our rapidly changing climate,” Smiley said.
The fund, which would be established through a City Council ordinance, is designed to reinvest savings from energy efficiency projects into additional clean energy improvements.
Funding would come from the city’s capital improvement budget and focus on energy efficiency, electrification and renewable energy projects in city-owned facilities, according to Smiley's office.
Priscilla De La Cruz, Providence’s director of sustainability, applauded the move.
“Introducing a dedicated funding stream to advance clean energy sources in buildings that contribute to pollution shows this administration’s commitment to creating a healthier and more sustainable future in Providence,” she said.
City Councilor Susan R. AnderBois, chairperson of the Special Committee on Environment and Resiliency and lead sponsor of the ordinance, called the fund “the next step in implementation” following the 2024 Carbon Neutral Buildings Act, which requires all city-owned buildings to be carbon neutral by 2040.
She noted that the city has already replaced fossil fuel-based heating and cooling and water heating systems with high-efficiency electric equipment in 22 buildings, representing roughly 1.2 million square feet, and conducted energy audits and efficiency upgrades in more than 60 others, bringing in $3.2 million in utility incentives for lighting, HVAC, and building management improvements.
On-site renewable energy systems totaling 1.4 megawatts are slated for completion in 2026, generating about 5% of the electricity used by city facilities, and energy use across all city-owned buildings has dropped seven percent over the past four years.
“While the federal government attacks clean energy, Providence will continue to find new ways to save money, reduce pollution, and create good local jobs,” AnderBois said.
Meanwhile, Joseph L. Walsh, Jr., business manager of International Brotherhood of Electrical Workers Local 99, said the fund not only supports renewable technologies but also invests in people, creating opportunities for training and skilled jobs.
“Dedicated funding for these projects creates real opportunities to expand union apprenticeship programs, train the next generation of skilled workers, and ensure that every job comes with strong wages, benefits, and working conditions," Walsh said. "That’s how we build a clean energy economy that truly works for everyone, including working families.”
City officials said the revolving fund will complement Providence’s Decarbonization Roadmap, released in 2024, which outlines strategies to decarbonize 130 city-owned facilities by 2040 while maintaining reliable public services and long-term capital planning, according to the mayor's office.
Matthew McNulty is a PBN staff writer. He can be reached at McNulty@PBN.com or on X at @MattMcNultyNYC.
