Author: Gary Decker

(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.

Read the Full Article Here

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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(Washington, D.C.) – DC Green Bank today announced the closing of an investment of more than $500,000 to support Shiloh Baptist Church of Washington as it pursues upgrades to its sanctuary building cooling system and considers additional building efficiency upgrades and capital improvements. This investment is part of DC Green Bank’s Community Impact Initiative (CII) pilot program. The CII pilot is designed to support community-serving institutions, including houses of worship, as they pursue building and systems upgrades that increase energy efficiency, bring down operating costs, and allow them to direct those savings to other deferred maintenance needs. The program also provides support to institutions throughout every stage of the project – from financial document and record identification all of the way through closing. DC Green Bank worked with Go Green Together (GGT) to support Shiloh to outline their energy system needs, assist in preparing the records and information needed to apply for a loan, identify mechanical, electric, and plumbing (MEP) contractors to undertake the work, and get the church to the closing table. The cooling system upgrade alone is expected to reduce electricity demand by the church by approximately 550 kWh for every eight hours of operation, eliminating the equivalent level of toxic emissions as avoiding over 980 miles driven by a typical passenger car.

Located in Ward 2, Shiloh Baptist Church is one of the oldest historically Black churches in the city and a leader in the faith community in the District and beyond. Donald F. Richardson, Chair, Board of Trustees, Shiloh Baptist Church of Washington, said of the partnership with DC Green Bank and Go Green Together, “We are proud to work with DC Green Bank and Go Green Together to meet our cooling system replacement needs as well as continue discussions about pursuing other systems and facilities upgrades in the coming months. Having a pilot program like the Community Impact Initiative that is dedicated to our city’s community-serving organizations fills an important gap for many institutions that may not be able to access affordable financing through private financial institutions. The ability to be able to finance large investments for our congregation that not only save us money, but are paid back solely on the expected utility savings is a game changer.” The initial loan will finance the purchase and installation of a new, highly energy efficient chiller to cool the sanctuary building. The partners will continue conversations about the potential for additional upgrades and retrofits.

DC Green Bank is prioritizing CII to align with its core values – Sustainability, Clean Economy, and Inclusive Prosperity – in order to ensure that no community organizations get left behind in the transition to a cleaner future, that they are able to share in the financial savings that come along with it, and they can show leadership in the climate realm in addition to their core missions. Eli Hopson, CEO of DC Green Bank, said of the deal, “We are honored to provide financing to Shiloh Baptist Church to help meet the needs of their congregation and their facilities. Shiloh is exactly the type of institution that CII was created to serve, and we could not have asked for a better partner to showcase the impact of green finance. Faith-based institutions have the power to lead entire communities to a cleaner, greener, and more equitable future, and we are excited to provide financing for many more to come through CII.”

By Tristan Navera, Washington Business Journal

Mi Casa Inc. has landed some of the money it needs to start work on a long-planned affordable housing project slated for 14 Florida Ave. NW in Truxton Circle.

D.C. Green Bank closed on a $255,728 pre-development loan for the new Barnett-Adan Apartments development in Ward 5. It will include a 3,000-square-foot office and 27 housing units for residents earning between 30% and 80% of the area median income. The project is to include permanent supportive housing, while Mi Casa Inc. plans to use the office as its headquarters.

This is the first project to benefit from D.C. Green Bank’s “Navigator” loan, a concept pioneered with Inclusive Prosperity Capital to provide gap financing for developments that are otherwise hard to finance. It will have a 1.99% interest rate and helps finance costs related to energy efficiency improvements, energy audits design and engineering work for green features. In Mi Casa’s original application to the Board of Zoning Adjustment filed in June 2019, it expressed a goal of building a net-zero project with solar rooftop panels.

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