Author: Gary Decker

Washington, D.C. – The DC PACE Program and Stonehill PACE program are proud to announce the successful closing of nearly $5 million in financing to deliver energy efficiency and renewable energy upgrades for a 13-story residential condominium building in Ward 6. The financing administered through the DC PACE program is poised to generate substantial environmental benefits for both the building’s residents and the larger community. The estimated total energy cost savings of this project will be $6.7 million over 30 years, with annual electricity savings of 1.4 million kWh and 3.4 million gallons of annual water savings.

“We are thrilled to have joined forces with Stonehill PACE to finance these essential energy upgrades,” said Ronald Hobson, DC PACE Program Manager. “This partnership showcases the significant benefits that the PACE financing program can offer not only to the community and residents but also to property owners and developers. Stonehill’s use of PACE financing is a prime example of how we can work together to achieve our clean energy goals and make a positive impact on the environment.”

“Stonehill PACE is proud to partner with the DC PACE Program to finance energy upgrades utilizing the PACE program,” said Jared Schlosser, Stonehill Senior Vice President and Head of Stonehill PACE. “This collaboration allows us to leverage lower-cost financing options and meet the increasing demand for clean energy solutions more efficiently. As we strive towards a cleaner future, we believe this is an exciting time for the growth of green finance. We look forward to continuing our partnership with DC Green Bank to positively impact the environment and community.”

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Washington, D.C. – The DC PACE Program and Forbright Bank are proud to announce the successful financing of three new solar projects to deliver energy efficiency and renewable energy upgrades for properties in Wards 2 and 3. The combined projects will generate energy savings of approximately 400,000 kWh per year, resulting in the avoidance of greenhouse gas emissions equivalent to burning over 313,000 pounds of coal.

“The PACE Program plays a crucial role in shaping the future of DC, and this financing is another significant step towards a cleaner, greener, and more equitable city,” said Ronald Hobson, DC PACE Program Manager. “We look forward to the ongoing partnership between the PACE Program and Forbright Bank. It shows that there is a pathway to a future where all capital investments are green investments.”

The DC Property Assessed Clean Energy (PACE) is a special financing option for renewable energy projects such as solar, energy efficiency upgrades like new windows or HVAC units, conservation projects like green roofs and water use systems. The DC PACE Program has facilitated loans totaling nearly $95 million since its first deal closing in 2013, with more than $38 million of that total unlocked just since DC Green Bank assumed the role of program administrator in October 2021.

“We are proud to participate in the DC PACE Program to deliver financing for projects across the District,” said David Kelly, Director, Forbright’s CPACE Lending Division. “Forbright’s sustainable goals are aligned with those of the PACE Program and we are excited to continue to promote green building upgrades that not only benefit the environment but also provide long-term cost savings to DC businesses and communities.”

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By Jessica Hunt, Environmental Leader

Nonprofit, Enterprise Community Partners (Enterprise), and DC Green Bank (DCGB) announced a $12.4 million investment to install 2.2 MW of solar panels at four affordable housing properties in the District, which will generate enough electricity to power 500 homes annually. Rooftop solar will be installed at Enterprise’s Arbor View and Randle Hill apartment communities in D.C. as well as carports with EV charging stations for residents of The Overlook at Oxon Run in Ward 8, along with Edgewood Commons, located in Ward 5.

The solar panels will eliminate up to 1,794 tons of carbon dioxide each year—signifying Enterprise’s commitment to environmental, social, and governance investing. In addition to reducing environmental impact, a new community solar program will offer residents electricity at 25% below the market rate. ECD and Prospect Solar have partnered to offer a workforce development program that will train local residents in all aspects of solar energy.

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By Michael Schoek, pv magazine

A national non-profit group formed by iconic affordable housing advocate James W. Rouse in 1982 has turned its attention to rooftop solar accessibility.

Enterprise Community Partners, a Washington, D.C. -based affordable housing group which has invested $54 billion to date to create 873,000 affordable homes, this week partnered with the DC Green Bank to fund $12.4 million towards a 2.2 MW rooftop solar portfolio.

Enterprise will install rooftop and solar canopy systems at four affordable housing complexes in the metropolitan D.C. region. Funded by the Green Bank and Enterprise’s community development financial institution, the Enterprise community loan fund, the rooftop solar investment will bring solar to 536 households. Rooftop solar will be installed on Enterprise’s Arbor View and Randle Hill apartment communities in Ward 8. Additional solar carports and EV charging stations will be installed at The Overlook at Oxon Run in Ward 8 and Edgewood Commons in Ward 5.

“The IRA is a gamechanger that will unleash tens of billions of dollars for direct investment in communities, and hundreds of billions more in tax and financial incentives,” Jean Nelson-Houpert, interim chief executive officer of the DC Green Bank told pv magazine USA. “We stand ready to ensure that D.C. gets its fair share of these resources and that we harness them to support the delivery of clean, affordable, and renewable solar energy that prioritizes disadvantaged communities.”

The DC Green Bank funds solar energy, energy efficiency and building retrofits, as well as stormwater infrastructure, and EV charging systems across the DC region. In 2022, the Green Bank issued $26 million in capital, a record year compared to $3 million and $2 million issued in 2021 and 2020, respectively. Approximately eight of the Bank’s 20 total FY 2022 loan transactions financed solar projects.

To date the Green Bank has funded 18 solar rooftop projects in Ward 8 and seven rooftop solar projects in Ward 5, where Enterprise will deploy 2.2 MW of new installations.

In May 2022, the Green Bank teamed up with solar developer PosiGen on a $7 million transaction to install 300 residential solar projects across the District for low-to-moderate income (LMI) residents, including houses in Ward 5 and 8. A month later, the Green Bank partnered with Howard University and Volt Energy to deploy 1.5 MW of solar resources in a $6 million deal to finance solar installations across the D.C. university’s campus, representing the largest solar deployment on a historically black college and university (HBCU) campus.

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By Matt Small, WTOP

Rooftop solar panels, solar carports and new electric vehicle charging stations are coming to parts of D.C.’s Ward 5 and Ward 8, thanks to a $12.4 million investment.

The solar panels will be installed at the Arbor View complex located near United Medical Center and at the Randle Hill apartments in Congress Heights. Both properties are owned by Enterprise Community Partners’ subsidiary, Enterprise Community Development, which said the investment would bring solar energy to 536 homes and create jobs.

Enterprise’s Edgewood Commons in Ward 5 and Overlook at Oxon Run in Ward 8 will receive solar carports and new electric vehicle charging stations.

The project’s funding comes from Enterprise and the DC Green Bank, which aims to finance clean energy projects.

Not only does the project promise to reduce greenhouse gas emissions by up to 1,794 tons of carbon dioxide each year, it will offer a new community solar program to residents — giving program subscribers a 25% discount on their electric bills.

Work on the project is anticipated to wrap by the end of the year.

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By Keith Lora, Commercial Observer

Enterprise Community Partners has teamed with DC Green Bank on a $12.4 million investment to install solar panels at four affordable housing properties in Washington, D.C.

Rooftop solar panels will be installed at the Arbor View and Randle Hill apartment communities in Ward 8, while solar carports and new electric vehicle charging stations will be installed at The Overlook at Oxon Run in Ward 8 and Edgewood Commons in Ward 5. The solar projects will generate an estimated 2.2 megawatts of electricity for 536 homes in total.

DC Green Bank supported the project with $3.75 million in affordable construction financing.

“We know that in order to meet our collective climate, energy, affordability and equity goals, that homes across the city must choose solar as well,” Jean Nelson-Houpert, interim-CEO and chief financial officer at DC Green Bank, told CO. “This investment demonstrates that we can make large-scale investment in solar energy that delivers reductions in greenhouse gas emissions and reductions in the cost of living at a time of rising bills for families, all while increasing our resilience to energy disruptions and climate change, and delivering good, clean jobs right here in D.C.”

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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.

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