Author: Daniel Lebiednik

By Solar Builder Staff, Solar Builder

Enterprise Community Partners and DC Green Bank have invested $12.4 million to install 2.2 MW of solar panels at four affordable housing properties in Washington, D.C.

The properties are owned by Enterprise’s subsidiary Enterprise Community Development, the fifth largest nonprofit housing provider in the United States and the solar project developer. Funded by DC Green Bank and Enterprise’s community development financial institution, Enterprise Community Loan Fund, along with Enterprise’s capital subsidiary, Enterprise Community Investment, the investment will bring solar energy to 536 homes while supporting job creation in D.C. The investment is further supported by Solar Revenue Put production insurance from kWh Analytics, enabling Enterprise to deploy more capital with lower financing risk.

“We know that a clean, renewable and affordable future for the District will require portfolios of projects like this to be replicated citywide,” said Brandi Colander, chair of the DC Green Bank board of directors. “We are proud of this partnership with Enterprise and hope that this effort will showcase the role that green banks play in transforming communities so that the benefits of renewable clean energy are delivered equitably and support affordable housing.”

Rooftop solar panels will be installed at the Arbor View and Randle Hill apartment communities in Washington, D.C.’s Ward 8. Solar carports and new electric vehicle charging stations will also be installed at The Overlook at Oxon Run in Ward 8 and Edgewood Commons in Ward 5.

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By Colleen Grablick, DCist

Solar panels are coming to more than 500 homes in Ward 8 — an investment the city’s energy officials say will reduce both greenhouse gas emissions and residents’ utility bills.

DC Green Bank, a city initiative that finances clean energy projects, announced the investment on Thursday, which will funnel $12.4 million into the installation of 2.2 megawatts of solar energy at four D.C. affordable housing properties in wards 5 and 8.

Rooftop solar panels will be installed at the Arbor View complex located near United Medical Center and at the Randle Hill apartments in Congress Heights. Meanwhile, solar carports and new electric vehicle charging stations will come to the Overlook at Oxon Run in Ward 8 and the Edgewood Commons in Ward 5. Construction is expected to be complete by the end of 2023, according Gary Decker, the director of strategic engagement at DC Green Bank. In addition to an estimated yearly reduction in greenhouse gas emission of roughly 1,8000 tons of carbon dioxide, the project will offer residents at the 536 units a 25% discount on their electric bills.

“We know that a clean, renewable, and affordable future for the District will require portfolios of projects like this to be replicated citywide,” Brandi Colander , chair of the DC Green Bank Board of Directors, said in a statement Thursday.

The investment is the latest in a series of projects spearheaded by DC Green Bank since it was established by the D.C. Council and Mayor Muriel Bowser in 2018. It’s also another effort to transition the city’s energy to more renewable options while not leaving behind low-income residents, for whom solar options are often too expensive. (According to the Solar Energy Industry Association, the price of installing solar panels on average-sized home in the U.S. is around $20,000.)

“Not many residents can afford to put solar on their roof,” Jean Nelson-Houpert, DC Green Bank’s interim CEO and chief financial officer, told DCist/WAMU. “For residents in affordable housing, [solar] would be even more prohibitive, so financing projects like this helps these communities that would’ve been left behind.”

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Today, Enterprise Community Partners (Enterprise) and DC Green Bank (DCGB) announced a $12.4 million investment to install 2.2 megawatts of solar panels at four affordable housing properties in the District. The properties are owned by Enterprise’s subsidiary Enterprise Community Development, the fifth largest nonprofit housing provider in the United States and the solar project developer. Funded by DCGB and Enterprise’s community development financial institution (CDFI), Enterprise Community Loan Fund, along with Enterprise’s capital subsidiary, Enterprise Community Investment, the investment will bring solar energy to 536 homes while supporting job creation in the District. The investment is further supported by Solar Revenue Put production insurance from kWh Analytics, enabling Enterprise to deploy more capital with lower financing risk.

Underscoring Enterprise’s commitment to environmental, social and governance (ESG) investing, the solar panels are expected to eliminate greenhouse gas emissions by the equivalent of up to 1,794 tons of carbon dioxide each year. In addition to the environmental benefits, a new community solar program will be offered to residents, providing subscribers a 25 percent discount on their electric bills. Enterprise Community Development, working with local community providers and installer Prospect Solar, will also offer a complete workforce development program to residents interested in a career in solar energy.

DC Green Bank supported the project with $3.75 million in affordable construction financing. Solar and renewable energy is one of the bank’s core investment areas, and the emphasis within this project on bringing renewable energy to affordable housing properties was critical to closing the deal. “We know that a clean, renewable, and affordable future for the District will require portfolios of projects like this to be replicated citywide,” said Chair of the DC Green Bank Board of Directors Brandi Colander. “We are proud of this partnership with Enterprise and hope that this effort will showcase the role that green banks play in transforming communities so that the benefits of renewable clean energy are delivered equitably and support affordable housing.”

Rooftop solar panels will be installed at the Arbor View and Randle Hill apartment communities in Ward 8. Solar carports and new electric vehicle charging stations will also be installed at The Overlook at Oxon Run in Ward 8 and Edgewood Commons in Ward 5.

Click here to read the full release or view below.

“Grandma Dynamite” has been contributing to her Washington community for decades. A community project is giving back to her and her neighbors, ensuring their homes are comfortable and energy efficient. Learn more about this community and the Affordable Housing Retrofit Accelerator program that is helping affordable housing buildings reach the District’s Building Energy Performance Standards, reduce energy use, save money, and secure a healthy and clean future for all residents.

Click below to watch the short BBC documentary.

Watch the Video Here

By Tristan Navera, Washington Business Journal

D.C. Green Bank’s inaugural chief is exiting as the financial organization prepares to emerge from its “startup” phase and take advantage of federal resources now available to support sustainable construction.

Eli Hopson, founding CEO of the 2.5-year-old program, is leaving to become chief operating officer and executive director of the Coalition for Green Capital, a nonprofit that will soon apply with the Environmental Protection Agency to became the nation’s first green bank. Friday was his last day on the job.

D.C. Green Bank CFO Jean Nelson-Houpert has been named interim leader in Hopson’s place. The board hasn’t disclosed a process for naming a permanent CEO but said one is ongoing.The institution was established by the District in 2018 to provide financing mechanisms for sustainable building upgrades.

Under Hopson’s tenure, the D.C. program grew from $2 million in loan commitments in its first year to a projected $30 million in its third. That’s meant ever-bigger financing deals, like a $7 million loan to PosiGen to provide solar energy at no cost to 350 low- and moderate-income D.C. households.

“I’ve been proud of what we accomplished, the progression of learning while dealing with this volume of loans,” Hopson said in an interview. “It’s been extraordinarily fast given the complications.”

(Washington, D.C.) DC Green Bank announced today the departure of the bank’s inaugural Chief Executive Officer, Eli Hopson, and an orderly transition to interim-CEO Jean Nelson-Houpert, the bank’s current Chief Financial Officer. Mr. Hopson leaves DC Green Bank after 2.5 years of committed service, growing the institution’s investment portfolio from approximately $2 million in loan commitments in his first fiscal year to nearly $30 million in his third fiscal year in charge. He is leaving his post as DCGB CEO to join the Coalition for Green Capital as its Chief Operating Officer and Executive Director, supporting the non-profit financial institution’s planned application to the Environmental Protection Agency to serve as the United States’ first national green bank to finance green projects and initiatives across the country.

During Mr. Hopson’s tenure, DC Green Bank saw incredible growth, not only in terms of the size of its investments, but also in capacity and stakeholder relationships. Beginning as its first employee in April 2020 in the early days of the COVID-19 pandemic, he oversaw the hiring of the bank’s Leadership Team and closed the bank’s first loan, well ahead of most green banks’ initial investment timetables. As of his departure the bank is positioned to take the next step in its maturation process while marshaling the tremendous amount of resources set to come into the District following the passage of the federal Infrastructure Investment and Jobs Act in 2021 and the Inflation Reduction Act in 2022.

“It has been the pleasure of my career to lead DC Green Bank from its very first days of operation and to serve the residents of the District,” said Hopson. “I want to thank the Board of Directors and our outstanding staff for their trust in my leadership and for supporting me throughout my tenure. We have achieved an incredible amount in our nearly three years together, and I aim to ensure that the new national green bank builds on the outstanding work we did together right here in DC. It is bittersweet as my time with the bank comes to an end; however, I know that the future of the institution is in fantastic hands and that the District will continue to be a national leader that everyone will look to for inspiration.”

“We greatly appreciate Eli’s thoughtful service to the District and DCGB as our inaugural CEO. This pioneering venture is a proven model of partnership to ensure that the future of our city is cleaner, greener, and more inclusive with real investments in climate mitigation. The Board wishes Eli every success in his next role to ensure that this country demonstrates strong climate leadership from coast to coast,” said Chair of the DC Green Bank Board of Directors, Brandi Colander. “It is indeed a testament to the success of the green bank model to see it elevated at the national level, we are grateful that our own leadership, from the nation’s capital will continue to shape that work. As we make this transition, we are fortunate to have a proven leader in Ms. Nelson-Houpert that can step into the role of interim-CEO. Ms. Nelson-Houpert has demonstrated a solid handle of the DCGB mission, is a seasoned professional and financial institution veteran prepared to lead. We thank her tremendously for her service.”

Ms. Nelson-Houpert joined the DC Green Bank staff in September 2020 as part of the Leadership Team and quickly provided project finance deal due diligence and implemented strong financial and accounting policies to ensure the institution could fulfill its mission in line with its core values.

“I want to express my gratitude to the Board for their confidence in me to step into the interim-CEO role and I want to voice my sincere congratulations to Eli on his important new opportunity,” said Ms. Nelson-Houpert. “Working with Eli over these last years to establish and grow the bank to where we are today has been an amazing experience. I look forward to continuing the hard work to fulfill our mission, partnering closely with the Board, city leadership, our wonderful staff, and the communities we serve to support the transition to a cleaner DC.”

Mr. Hopson’s last day with the bank will be October 14^th. Ms. Nelson-Houpert’s interim-CEO leadership is effective immediately. The DC Green Bank Board of Directors will continue to support the smooth transition of leadership and oversight of governance duties.