Author: Gary Decker

By Kazi Stastna, CBC News

You’ve heard of the gold rush? Get ready for the green rush. With close to $370 billion US ($475 billion Cdn) on the table, the race will soon be on south of the border to secure some of the clean-energy cash expected to flow out of the Inflation Reduction Act which Democrats hope to pass this coming week.

“Green banks” are one way that the Biden administration intends to distribute the billions of dollars that are meant to accelerate the adoption of solar, wind, geothermal and other forms of renewable energy.

They are quasi-public entities that aim to attract private investment to small-scale green energy projects, such as residential solar installations, energy-efficient building retrofits and various forms of electrification.

Part of what green banks say they bring to the table is staff with the technical know-how to assess the viability of projects. That was something that attracted the D.C. solar contractor Flywheel Development when it went through D.C. Green Bank to finance a solar roof on a rental building in a low-income neighbourhood in the city’s northwest.

“Their base level of knowledge is just so much higher,” said Flywheel’s co-founder Jessica Pitts. “Lenders that we’ve approached have had much less institutional knowledge in terms of the basics of how do you even fund solar … what are your sources of income and how does it even work?”

The project cost about $132,500, with the green bank kicking in $80,000, the company $26,000 and a city renewable energy program providing the rest. A private lender and the green bank will co-finance the long-term loan that enables Flywheel to oversee the project for the length of the 15-year contract it has with the city and the property owner.

The roof will produce an average of 25,000 kilowatt hours per year, enough to supply six households. In this case, the households it’s supplying are not actually in the building. The electricity generated is fed into the city’s grid and allocated to low- and moderate-income residents through a program called Solar for All that covers half their utility bill.

Flywheel makes its money back by selling the electricity to the city and through solar energy credits, which sell for about $365 to $435 per megawatt hour in D.C., where utilities have to generate 10 per cent of their power from local solar sources by 2041.

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By Aysha Khan, Next City

Washington, D.C. just finished installing its first solar shingle project through the district’s Solar for All program for low-income residents.

The new installation at Rock Creek Ford is one of nearly 200 community solar installations underway as part of Solar for All, a Department of Energy & Environment program aiming to provide solar energy installations for 100,000 D.C. residents over the next decade. Participants can expect their energy bills to be halved over 15 years, the program says.

The new Rock Creek Ford project is the first in the District to use solar shingles by SunStyle. These shingles not only generate electricity like a traditional solar panel, they also function as a durable roofing material. The Swiss company’s solar shingles have been installed on hundreds of projects in Europe, from residences to government buildings, as well as on Google’s new campus in Mountain View, California.

This new solar roof installation will provide enough energy for six low-income families in the District, developers said in a news release. Through community solar projects like these, income-eligible residents can “subscribe” to a portion of the power produced by these community renewable energy facilities to receive a partial credit on their electric bill.

As we wrote last year in our explainer on green banks: “Green banks state-sponsored entities that use their dedicated funding sources to make loans, provide credit enhancements or use other financial mechanisms to encourage private investment in clean and renewable energy.” Read more about how the D.C. Green Bank is incentivizing investment in community solar projects for marginalized communities.

The Rock Creek Ford installation was done by local solar developer Flywheel Development, which since 2019 has completed two dozen Solar for All community solar installations and will complete another 11 this year.

“Projects like this one are important not only because they help reduce our environmental footprint and provide a clean energy source, they also act as a model for how communities can benefit and participate in the green economy,” Flywheel said in its announcement of the project’s completion.

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By K Kaufmann, RTO Insider

WASHINGTON — The “dragonscale” solar shingles that are powering Google’s (NASDAQ:GOOGL) massive eco-friendly campus in California’s Silicon Valley will soon also be pumping out electrons from the much smaller rooftop of a multifamily building in D.C., while cutting electric bills in half for about a half-dozen low-income families in the city.

The 21-kW installation in a residential neighborhood is the newest community solar project in D.C.’s Solar for All program, which to date has halved electric bills for about 6,600 households across the city. It is also the city’s first solar shingle project, hailed by local officials and the project developers who turned out on a rainy Monday afternoon to cut a symbolic green ribbon in front of the building.

“This project represents not just another solar installation; it’s emblematic of where we see the future of the sustainable built environment going,” said Jessica Pitts, co-founder and principal at Flywheel Development, the D.C.-based developer that built the project. “It is the beginning of a transformation away from sustainable infrastructure being extra, being in addition to the materials of yesterday, and a move toward a future where sustainability is truly integrated into our surroundings, into our homes, into our buildings and becomes part of the fabric of our communities.”

For City Councilmember Janeese Lewis George, the project reflects the moral commitment local officials in the nation’s capital have made in the face of the “devastating climate crisis that threatens every facet of our lives.”

“We have a moral responsibility to revolutionize our energy,” Lewis George said. “We have a moral responsibility to break barriers by making green energy inclusive and accessible for everyone through programs like Solar for All, and we have a moral responsibility to collaborate across agencies, communities and the private sector to make it all happen.”

And for projects like the solar shingle roof, DC Green Bank, founded in 2018, helps fill funding gaps, said Brandi Colander, the bank’s board chair. “We take on the hard stuff; we take on the innovative stuff … that others were not quite sure they wanted to make a bet on,” Colander said at the ribbon cutting. “We are investing in helping people figure out how to navigate the system so they can make more pioneering investments like the one we have standing before us today.”

In the past three years, the bank has provided funding for a series of Flywheel projects, said Eli Hopson, the bank’s CEO. “It’s harder for smaller organizations like Flywheel to find [funding],” Hopson said. “They had done smaller projects, but they hadn’t done anything at [a larger] scale.”

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(Washington, D.C.) – Today, the DC Sustainable Energy Utility (DCSEU), DC Green Bank, Flywheel Development, and SunStyle, alongside Ward 4 Councilmember Janeese Lewis George and other District elected and government officials, celebrated the completion of the first solar shingle project under the District’s Solar for All program. The project is a community renewable energy facility (CREF or community solar) located in Ward 4 and is one of nearly 200 community solar installations that are part of Solar for All, which is designed to bring the benefits of solar to 100,000 income-qualified DC residents by 2032. The partners released a video today highlighting the new installation and the benefits these projects are bringing to the District.

This community solar installation is the first of its kind in the Solar for All program and is also the first project in the DC area to use the SunStyle solar shingle. Solar shingles and roofing like SunStyle’s are unique in that they produce electricity like a traditional solar panel but also serve as the actual roofing material. This solar roof will produce enough electricity to serve six income-qualified DC families through Solar for All Community Solar subscriptions.

Flywheel Development, a DC-based solar developer and participant in the Solar for All program since 2019, has worked closely with the DCSEU and DC Green Bank to make the project a reality. Since 2019, Flywheel has completed 24 Solar for All Community Solar installations and expects to complete another 11 working with both organizations this year.

“The DCSEU and DC Green Bank are critical partners for these projects,” said Jessica Pitts, co-founder and CEO of Flywheel Development. “The incentives the DCSEU provides through the Solar for All program and the affordable financing provided by DC Green Bank enable us to build our business, bring solar to buildings where it may not have been an option, and to be a part of the District’s transformation to a clean energy economy.”

DC Green Bank, established by DC Council and Mayor Muriel Bowser in 2018, has been working closely with Flywheel Development on Solar for All projects for the past two years to provide construction financing. To date, the DC Green Bank has committed more than $25 million in financing to support local businesses and advance the District’s clean energy, environment, and equity goals.

“Flywheel brought us our first financing project back in 2020 and we are incredibly proud to continue to work with them to bring these Solar for All projects to life that will serve low- to moderate-income families here in DC,” said Eli Hopson, CEO of DC Green Bank. “DC Green Bank is a key piece of the puzzle to provide access to capital for smaller and growing companies, and we want to work with more businesses like Flywheel that are seeking to expand in sustainable industries across the city.”

This year under Solar for All, the DCSEU, who manages the program on behalf of the District Department of Energy & Environment, is providing more than $11.5 million in incentives to local solar contractors and developers to install solar systems on single-family homes of income-qualified DC families, as well to develop larger community solar systems like this one in Ward 4. In total, this work is expected to help more than 2,600 income-qualified DC families cut their electricity bills by about 50 percent, up to $500 per year, for the next 15 years.

“Solar for All is making a significant impact here in the District by creating opportunities for local contractors, creating jobs for District residents, and most importantly, creating lasting electricity bill savings for income-qualified DC families,” said Ted Trabue, Managing Director of the DCSEU. “Local contractors like Flywheel Development are bringing innovative technologies like this to the program and are critical to ensuring the District meets its clean energy and climate goals.”

Read the Full Release Below 

By Tristan Navera, Washington Business Journal

D.C. Green Bank and the Latino Economic Development Center are committing $1 million to help small businesses and community organizations in some of the District’s most underserved neighborhoods make their properties more energy efficient.

The Green Bank will lend $900,000 and LEDC has committed an additional $100,000 to fund “dozens of new solar installations and renewable energy retrofit projects” across Wards 5, 7, and 8, the organizations said in a joint statement.

Loans will range between $25,000 and $250,000 and will be repaid in around 10 years. Eli Hopson, CEO of D.C. Green Bank, said the funding commitment will help keep these kinds of renewable projects going in the face of rising energy and financing costs.

“Renewable energy and energy efficiency projects like those funded through this partnership will deliver immediate utility bill savings, increase cash flow for small businesses and community-serving organizations, and save them money over the long term,” Hopson said in a statement.

The partnership may not end there. Emi Reyes, the CEO of LEDC, said the organizations have discussed teaming up to fund similar projects in the future.

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DC Green Bank and the Latino Economic Development Center (LEDC) today announced the closing of an innovative $1,000,000 joint venture to support the delivery of dozens of new solar installations and energy efficiency retrofits for small businesses and community-serving organizations across Wards 5, 7, and 8. Community borrowers can apply for loans ranging from $25,000 – $250,000 with repayment periods as long as 10 years, with larger loans possible on a case-by-case basis. The $1,000,000 venture will be capitalized by $900,000 from DC Green Bank and $100,000 from LEDC.

The partnership will unlock much-needed capital in a tough economic climate for community-serving institutions, including small businesses, child development centers, assisted living facilities, houses of worship, grocery stores, self-service laundry facilities, restaurants, beauty salons, and more critical organizations across District neighborhoods. Loans can be used for all elements of an intended project, including design, engineering, installation, and construction, in pursuit of renewable energy and energy efficiency upgrades as well as sustainable building standards like LEED. Unlike traditional financial institutions, which assess loan applications based solely on credit scores, this joint venture will determine borrowers’ ability to repay through a holistic approach, increasing equity and expansion opportunities for borrowers that may be excluded from identifying financing elsewhere.

Eli Hopson, CEO of DC Green Bank, said of the joint venture, “We are proud to partner with an organization like LEDC that has a long track record of delivering impact and increasing the financial strength of entire communities. One of our core values is Inclusive Prosperity, and that means everyone in the District should have the opportunity to thrive and benefit from renewable energy and the Clean Economy. Like-minded partners like LEDC bring our message and mission into new communities, and we are excited to get to work.” Renewable energy and energy efficiency projects like those funded through this partnership will deliver immediate utility bill savings, increase cash flow for small businesses and community-serving organizations, and save them money over the long term. Many efficiency upgrades, including implementing lighting and water upgrades, pay for themselves in just a few years and deliver lasting savings that can be repurposed to invest in business or service expansion.

With energy and financing costs escalating rapidly across the country, partnerships like this will serve as a lifeline to community organizations and catalyze a green economic recovery across the District. Emi Reyes, Chief Executive Officer of LEDC, said of the partnership, “DC Green Bank will serve as a powerful ally as we work to expand the benefits of renewable energy and energy efficiency to underserved communities. As we seek to expand economic equality, particularly during these times, we want other organizations and small businesses in the District to understand that we are here to help them not only survive but rather thrive.” DC Green Bank and LEDC are in discussions to identify additional opportunities to invest in line with their overlapping missions.

Read the Full Release Below 

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DC Green Bank y el Latino Economic Development Center (LEDC) anunciaron hoy un programa conjunto de $1,000,000 para apoyar la implementación de nuevas instalaciones solares y la rehabilitación de eficiencia energética para pequeñas empresas y otras organizaciones de servicios comunitarios en los distritos 5, 7 y 8 de Washington, DC. Los prestatarios en estas comunidades podrán solicitar préstamos que van desde $25,000 – $250,000, con plazos de pago de hasta 10 años, e inclusive tendrán la oportunidad de aplicar a préstamos más grandes en algunos casos particulares. El programa conjunto de $1,000,000 estará compuesto por $900,000 de DC Green Bank y $100,000 de LEDC.

Este programa busca proporcionar capital indispensable en este clima económico, el cual no tiende a favorecer a las empresas u organizaciones que prestan sus servicios a la comunidad, como las pequeñas empresas, los centros de desarrollo infantil, los centros de asistencia para los adultos mayores, los santuarios de fe, las abarroterías, las lavanderías de autoservicio, los restaurantes, los salones de belleza y otras organizaciones importantes que brindan servicios dedicados a varias comunidades necesitadas del Distrito. Los préstamos podrán ser utilizados para financiar todos los elementos de un plan de actualización de energía renovable y eficiencia energética que estén incluidos dentro del diseño, la ingeniería, la instalación y la construcción de dicho plan, o para implementar estándares de construcción sostenible como LEED. A diferencia de otras instituciones financieras tradicionales, que evalúan las solicitudes de préstamo basándose únicamente en los puntajes de crédito del potencial prestador, este programa determinará la capacidad de pago de los prestatarios a través de un enfoque más holístico. Es decir, buscará aumentar las oportunidades de equidad y expansión para los prestatarios que de otra manera podrían ser excluidos de otro tipo de financiamiento.

Eli Hopson, Director Ejecutivo de DC Green Bank, comento: “Estamos orgullosos de asociarnos con una organización como LEDC que posee un largo historial de generar un impacto positivo en muchas comunidades y de aumentar la solidez financiera de dichas comunidades. Uno de nuestros valores centrales es fomentar la Prosperidad Inclusiva para que todos en el Distrito tengan la oportunidad de prosperar y beneficiarse de la energía renovable y una economía limpia. Socios como LEDC llevan nuestro mensaje y misión a nuevas comunidades, y estamos emocionados de poder trabajar juntos en este programa”. Los proyectos de energía renovable y eficiencia energética financiados a través de este programa conjunto le generarán a los prestatarios ahorros inmediatos en sus facturas de servicios públicos, aumentarán el flujo de efectivo para las pequeñas empresas y las organizaciones de servicios comunitarios, ahorrándoles a su vez dinero a largo plazo. Muchas mejoras destinadas a la eficiencia energética, como la implementación de mejoras de iluminación y agua, se verán reflejadas como ahorros duraderos que pueden reutilizarse para invertir en la expansión de los pequeños negocios, así como también la expansión de sus servicios para el público.

Con los costos de energía y tasas de financiamiento aumentando rápidamente en todo el país, estos tipos de programas servirán como un salvavidas para las organizaciones comunitarias, procurando una recuperación económica más ecológica en todo el Distrito. Emi Reyes, Directora Ejecutiva de LEDC, estableció que: “DC Green Bank servirá como un poderoso aliado mientras trabajamos en expandir los beneficios de la energía renovable y la eficiencia energética a varias comunidades desatendidas. A medida que buscamos expandir la igualdad económica, particularmente durante estos tiempos, queremos que otras organizaciones y pequeñas empresas en el Distrito sepan que estamos aquí para ayudarlos no solo a sobrevivir sino también a prosperar”. DC Green Bank y LEDC siguen en conversaciones para identificar otras oportunidades adicionales de inversión que coinciden con sus misiones particulares.

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