Wells Fargo Environmental Finance Report April 2012 Wells Fargo Wells Fargo provides an account of their 2011 efforts towards their commitment to accelerating the development of a green economy. In addition to highlighting the many ways Wells Fargo supports this mission, the report also covers some trends in the industry.

Notably, the report points out that despite a turbulent economy, the green technologies industry has proven its resilience. In the period between 2003 and 2010, for example, the green business sector saw employment growth rates more than double the national average. Further, while renewable energy sources only account for 4% of the U.S.’s current electricity production, they are predicted to be the fastest growing source of electricity over the next 25 years.

On the solar front, Wells Fargo sees significant potential for growth in the U.S., projecting a shift from a 5 percent to a 14 percent global market share by 2015. Their own work in the sector included programs with Enfinity America, SunEdison, SunPower, GCL Solar, and Nevada Solar One. They also worked on construction and municipal financing for EE measures.

Wells Fargo is also active in wind energy, which accounts for 2.3% of U.S. electricity, or enough to power 8.2 million homes. They are currently working with groups including EDP Renewables, E.O.N., Enel Green Power, and Next Era to fund wind energy related projects.

The report also recognizes the significance of energy efficient improvements in the building sector, which alone accounts for over 70% of the nations electricity consumption and over 40% of its carbon emissions.

As far as quantifying Wells Fargo’s efforts, here are some figures for 2011:

• Provided a record $2.8 billion in environmental loans and investments, surpassing $11.7 billion in capital deployed to green buildings, green businesses, and renewable energy projects since 2005.

• Provided more than $1.5 billion to LEED® commercial buildings and community development projects.

• Invested more than $450 million in solar photovoltaic projects, doubling total investment to more than $900 million.

• Invested more than $200 million in wind projects, increasing total wind investment to more than $1.6 billion.

• Expanded options for customers to install renewable energy by providing more than $250 million through new construction finance, direct lease and loan financing, and municipal financing programs.

• Loaned more than $150 million to commercial banking and community banking cleantech customers.