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 

June-2022-LEDC_DCGB-Press-Release

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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.

Lea el Comunicado Completo Abajo

June-2022-LEDC_DCGB-Press-Release-Espanol
  • June 15, 2022
  • 12:00 pm
  • Virtual
  • Registration Closed

    DC Green Finance Authority (“DC Green Bank”) will conduct a Regular Meeting of the Board of Directors, pursuant to the Open Meetings Act, (DC Official Code §2-574(1)).

    Pre-registration is required.

     

    Download Agenda Here

    Regular Meeting of the DC Green Bank Board of Directors

    June 15 2022

    Our COO, Donald Walker, recently appeared on the Reimagining Company Culture podcast to talk about DC Green Bank, Human Resources leadership, and how to create a strong and inclusive workplace culture. The podcast is hosted by All Voices, an Employee Intelligence Platform to systematically ask for, accept, analyze, and act on feedback of all kinds.

    About The Episode

    In this episode of Reimagining Company Culture, we’re chatting with Donald Walker, Chief Operating Officer at DC Green Bank. At DC Green Bank Donald’s many responsibilities include strategic planning, human resources, marketing, information technology, and administrative programs. Tune in to learn Donald’s thoughts on communication and care for the full team member, encouraging equity-driven leadership, the current perception of human resources, and more!

    About The Guest

    Donald Walker (he/him/his) is the Chief Operating Officer for DC Green Bank, where he manages and implements the operational and organizational effectiveness plans. His many responsibilities include strategic planning, human resources, marketing, information technology, and administrative programs. Donald’s extensive background in leadership, career, and organizational development is critical to DC Green Bank’s success. Donald’s commitment to being a go-to resource goes beyond DC Green Bank. He serves as an adjunct professor in Towson University’s College of Business and Economics. Prior to DC Green Bank, Donald served in various leadership roles at Virginia Tech, Towson University, Kelly Services, and Lucas Group. He is an active member of the Society for Human Resource Management (SHRM) and sits on the Surrattsville High School Alumni Board. Donald received his M.B.A. with a focus on Leadership and Organizational Learning from Towson University, M.A. in Counseling in Higher Education from the University of Delaware, and B.S. from Towson University.

    Donald Walker, Chief Operating Officer At DC Green Bank - Sustainability And Power Dynamics

    May 26, 2022

    Just this past week, the World Meteorological Organization (WMO) released their State of the Global Climate report. The news was sobering as to be expected. The report found that in 2021, the world broke records for greenhouse gas concentrations, and our oceans are warmer and more acidic than ever. Today the Biden Administration also launched a week of action around their Justice40 environmental justice efforts. Our charge is clear: we must ALL move toward clean energy sources.

    Three years ago, I was tapped as Board Chair for the DC Green Bank. Since then, I’ve had the great pleasure and fortune to serve.

    DC Green Bank’s mission is to provide access to capital to grow the clean economy in an inclusive way. Our innovative financing solutions prioritize making the clean economy affordable for all DC residents, businesses, and community institutions. DC Green Bank focuses its investments on solar energy, greener and more efficient buildings, infrastructure resilience, and transportation electrification.

    I want to take a moment to share some of the great work our team has been doing. In addition to scaling capital to $30M by the end of this fiscal year and building out our core team:

    • We created a true model of a clean, inclusive, and equitable future with Faircliff Plaza East. This project includes a nearly $2 million pre-development loan for the design and planning stage for an affordable housing redevelopment project. The final building is envisioned to increase the number of affordable units on site by more than 50% – from 80 to 125. The building will have a solar-integrated green roof as well as up to 10 electric vehicle chargers.

    • We granted our first Community Impact Initiative (CII) loan to Shiloh Baptist Church of Washington, which will allow this pillar of the Ward 2 community to pursue upgrades to its sanctuary building cooling system and considers additional building efficiency upgrades and capital improvements that have been deferred.

    • We’ve made approximately $750,000 of affordable financing available for small businesses to invest in more efficient facilities, equipment, and operations and increase cash flow through our Small Business Loan Fund.

    So why does the DC Green Bank’s work matter? We’re creating tangible solutions to preserve the livability of the District and the planet for the foreseeable future with inclusive prosperity at the forefront.

    I’m honored to have the opportunity to serve as the DC Green Bank’s inaugural Board Chair and proud of our team. Together, we are making real investments in our future, creating affordable renewable energy solutions for all residents and business owners.

    Brandi-Note

    By Keith Loria, Commercial Observer

    During Infrastructure Week in Washington, D.C., this week, Mayor Muriel Bowser announced that DC Green Bank, a publicly funded bank, has committed $7.5 million to community and residential solar projects across the city.

    As part of its new commitments, a $7 million loan was provided to PosiGen, which will provide solar energy at no cost to low- and moderate-income (LMI) residents. The loan will unlock funding for the construction of up to 3,000 kilowatts of solar capacity on approximately 320 homes across the District in Wards 1, 4, 5, 7, and 8.

    A second $530,000 loan was provided to Uprise Electric to deliver community solar serving 15 residential projects under Solar for All, a program of D.C.’s Department of Energy & Environment (DOEE).

    “Partnering with PosiGen, a nationally recognized expert in solar and efficiency finance for low- and moderate-income homeowners, allows us to leverage their experience and scale to support our local solar developers,” Eli Hopson, CEO of DC Green Bank, told Commercial Observer. “By providing financing to Uprise Electric, we are able to invest directly into a local solar developer that is seeking to expand their solar footprint in the district and bring clean and renewable energy to LMI residents and communities.”

    Read the Full Article Here

    By Tristan Navera, Washington Business Journal

    D.C. Green Bank has closed on two deals that will lead to more solar capacity to power 350 homes.

    The bank closed on a $7 million loan with PosiGen to add solar energy to power about 320 homes in areas of low to moderate incomes across the District, including in wards 1, 4, 5, 7 and 8. Altogether, the installations total 3,000 kilowatt-hours of capacity, which can generate about 3,600 megawatt-hours of energy each year for the homes. It’s the largest deal of its type for D.C. Green Bank since it was created in 2020.

    “We cannot build a clean and resilient future unless all District residents have access to the benefits, and we are putting up a substantial amount of capital to deliver incredible savings to residents,” Eli Hopson, Green Bank’s CEO, said in a statement.

    Around the same time, D.C. Green Bank closed on $530,000 worth of loan agreements with Uprise Electric Co. to install another 75 kilowatt hours of capacity on 15 other residential projects. These residences are part of Solar for All, a program of the District’s Department of Energy and Environment that works with local solar contractors to install arrays on homes and cut energy usage.

    Read the Full Article Here

    (Washington, DC) Today, Mayor Muriel Bowser highlighted progress in expanding access to solar energy through DC Green Bank and announced that, since its launch in 2018, DC Green Bank has now committed more than $12 million to community and residential solar projects serving low-to-moderate income (LMI) residents in the District. DC Green Bank reached the $12 million milestone with two recent loan closings—including a $7 million deal that is the DC Green Bank’s largest. In addition to energy savings, the two deals will provide hundreds of District residents a fair shot through construction job opportunities.

    “We were proud to make DC one of the first cities in the nation to launch a Green Bank, and these projects which are helping us build a more sustainable and equitable DC are a good example of why we wanted to create a DC Green Bank,” said Mayor Bowser. “By bringing together DC Green Bank and DOEE’s Solar for All program, we’re lowering electric bills, reducing pollution, and creating jobs for DC residents.”

    The $7 million deal with PosiGen will provide solar energy to low-to-moderate income (LMI) residents—at no cost to them—across approximately 320 residential projects, with the initial slate of installations coming to Wards 1, 4, 5, 7, and 8. A deal of more than $530,000 with Uprise Electric Company will deliver funds for community solar serving 15 residential projects under Solar for All, a program of the Department of Energy and Environment (DOEE) administered by the DC Sustainable Energy Utility.

    The PosiGen loan agreement will unlock funding for the construction of up to 3,000 kW of solar capacity. The installations are expected to create hundreds of clean economy jobs in the construction phase. They will also generate more than 3,600 MWh of renewable energy annually, while avoiding more than 2,500 tons of CO2, which is equivalent to an average passenger vehicle driving more than 6 million miles annually.

    Under the Uprise deal, more than a dozen LMI District families in the initial 15 projects will see their electricity bills cut by 50%. The deal is expected to create up to 13 clean economy jobs, generate more than 90 MWh of renewable energy, and avoid approximately 64 tons of CO2 equivalent annually – which is equivalent to an average passenger vehicle driving more than 160,000 miles. The Uprise deal couples DC Green Bank’s affordable financing with more than $100,000 from the Solar for All program, as well as an additional pool of capital that will be an incentive to deploy solar installations beyond the initial 15 projects. This is the third year in a row that DC Green Bank has provided financing to a DC-based solar developer to deliver community solar projects through Solar for All.

    “This is a huge win for the DC Green Bank and for the District as a whole,” said DOEE Director Tommy Wells. “Community solar is just one of the ways Mayor Bowser’s administration is working to secure a cleaner, greener future for the District, and we are so pleased to see these kinds of partnerships growing in the District.”

    Mayor Bowser introduced legislation establishing the DC Green Bank in 2017 and the law was enacted in 2018 making the District the second city in the country to establish a Green Bank. This policy tool uses public purpose funding to attract private investment in order to expand renewable energy, lower energy costs, reduce greenhouse gas emissions, create green jobs, and enhance resilience.

    “We are proud to work with PosiGen and Uprise to expand access to solar and showcase why DC is leading the way on access to clean, renewable energy as well as prioritizing low to moderate income communities under Solar for All,” said DC Green Bank CEO Eli Hopson. “We cannot build a green and resilient future unless all District residents have access to the benefits, and we are putting up a substantial amount of our capital to demonstrate that this investment model works and delivers incredible results across the board.”

    Read the Full Press Release Here

    DC Green Bank and PosiGen today announced the closing of a groundbreaking $7,000,000 deal to accelerate the deployment of residential solar across the District for low-to-moderate income (LMI) residents. The loan agreement will unlock funding for the construction of up to 3,000 kW of solar capacity on approximately 320 homes across the District, with the initial slate of installations coming to Wards 1, 4, 5, 7, and 8. The installations are expected to create hundreds of clean economy jobs in the construction phase and generate more than 3,600 MWh of renewable energy on a yearly basis, while avoiding more than 2,500 tons of CO2 equivalent annually – eliminating a comparable amount of emissions each year to an average passenger vehicle driving completely around the circumference of the earth more than 24 times.

    Eli Hopson, CEO of DC Green Bank, said of the large-scale deal, “Bringing successful, mission-aligned partners like PosiGen into the District is a big part of why DC Green Bank is leading the way on access to clean, renewable energy for LMI communities. We cannot build a clean and resilient future unless all District residents have access to the benefits, and we are putting up a substantial amount of capital to deliver incredible savings to residents and benefits for the planet.” To date, DC Green Bank has committed more than $12 million to community and residential solar projects across the city.

    In addition to this expansive solar portfolio, DC Green Bank and PosiGen are in discussions to pursue financing partnerships in other arenas, particularly on energy efficiency upgrades that bring down utility costs for LMI residents and decrease the environmental impact of building systems and appliances. Ben Healey, Chief Commercial Officer for PosiGen, said of the partnership, “DC Green Bank is an indispensable partner as we expand our impact model to the District. PosiGen was created to serve LMI residents and deliver financial and energy security in every community, and this solar portfolio will be a shining example of the inclusive, clean energy future that we must work together to begin to build immediately.”

    Read the Full Release Below

    May-2022-Posigen_DCGB-Press-Release

    DC Green Bank and Uprise Electric Company today announced the closing of a more than $530,000 deal to accelerate the deployment of community solar across the District. The loan agreements will deliver funds for the construction of approximately 75 kW of capacity across 15 residential projects. In addition to the funds allocated for the construction of existing projects in the company’s pipeline, the deal also includes hundreds of thousands of dollars as part of a revolving credit facility to make financing available for the development and deployment of up to an envisioned 75 kW of additional community solar as well. The initial 15 sites are part of Solar for All, a program of the District’s Department of Energy and Environment (DOEE) and administered by the DC Sustainable Energy Utility that works with local solar contractors to expand the deployment of community solar and cut electricity costs for income-qualified residents by as much as 50%. The initial 15 projects are expected to create up to 13 clean economy jobs, generate more than 90 MWh of renewable energy, and avoid approximately 64 tons of CO2 equivalent annually – eliminating a comparable amount of emissions each year to an average passenger vehicle driving more than 160,000 miles.

    This is the third year in a row that DC Green Bank has provided financing to a DC-based solar developer to deliver community solar projects through the Solar for All program. Eli Hopson, CEO of DC Green Bank, said of the deal, “We are excited to work with Uprise Electric to expand access to solar and strengthen the clean economy right here in the District. By continuing to invest in projects that are part of the city’s Solar for All program, we are demonstrating our commitment to ensuring that LMI families are prioritized in our accelerated transition to a clean energy future. We know that this investment model works, and we are looking forward to building additional partnerships with private lenders to replicate this success and unlock a large influx of capital into the city’s solar market.”

    Uprise Electric is looking to scale up their operations and the deployment of solar across the city. Accessing affordable financing alongside Solar for All funding will allow Uprise to take a major step in that direction, and the revolving credit facility will incentivize the expansion of the company’s solar footprint and provide the company the flexibility needed to pursue multiple new projects. “I started Uprise so that we could provide homeowners in DC with the highest quality solar options regardless of income level. Partnering with DC Green Bank has helped me get closer to that goal,” Chris Sewell, founder of Uprise Electric Company, said.

    Read the Full Release Below

    May-2022-Uprise-Electric_DCGB-Press-Release-1

    Building a clean future cannot wait. That is why DC Green Bank has been in discussions with Councilmember Mary Cheh, Chair of the Committee on Transportation and the Environment, and her staff to clarify the Green Finance Authority Establishment Act of 2018 as it relates to equitable investments in a clean energy future. In order to meet our city’s collective climate and sustainable energy goals we must fully transition off of fossil fuels and electrify the District. However, at present, converting legacy methane systems to fully electric heating, cooling, and cooking systems can be significantly more expensive than ultra-high efficiency fossil fuel-based systems, even accounting for lower fuel costs. This cost differential can place a large financial burden on low-income communities, community-based organizations and faith-based institutions, and residents that are least responsible for our climate crisis and simply happen to live, work, or worship in buildings that were built for methane systems. It can put some of our most vulnerable in a challenging position: choose the lower up-front cost fossil fuel option or choose the cleaner electric option that may carry a price tag that is, in some cases, 2-3x more expensive than a comparable fossil fuel-based system. An equitable transition to a clean future is a high priority for Mayor Bowser, the City Council, and DC Green Bank, and that is why we will meet this challenge head-on. We have asked the Council to introduce language to amend the Green Finance Authority Establishment Act of 2018 to formally codify our existing financing approach by prohibiting DC Green Bank from supporting on-site fossil fuel-based systems. This is a vital step to ensure that the District does not lock in fossil fuel infrastructure for decades to come, when the best science available says that we must begin our transition to clean energy now. To address equity and financial gaps that may emerge as part of this transition, we have also asked the Council to identify additional financial resources to ensure that our most vulnerable residents and communities are able to choose a clean energy future in a way that does not create an undue financial burden on them and delivers key environmental, public health, financial, and other benefits along the way. The District is a national leader on issues related to climate, the environment, sustainability, and equity, and taking this step today to introduce language to prohibit the usage of green bank resources to fund fossil fuel infrastructure ensures that we remain on the cutting edge on the road to a clean and inclusive future for all.

    51022-Statement-on-Fossil-Fuel-Policy
  • April 4, 2022
  • Virtual
  • Registration Closed

    Connect with lenders:
    City First Enterprises’ Geoffrey Shepard at geoffery@cfe.org
    DC Green Bank’s Matthew Hickman at mhickman@dcgreenbank.com
    • Explore other community lenders if you need financing for other types of projects or pre-revenue (click VIEW FILE here)

    Money Monday

    April 4, 2022
  • April 26, 2022
  • 12:00 pm
  • Zoom
  • Registration Closed
    Participants must be registered to join.

    Join DC Green Bank as we launch the Community Impact Initiative (CII). CII is a pathway open to small businesses, community-based organizations, and non-profits that would benefit from affordable financing, additional technical and management assistance, and end-to-end support from one of our various partners to pursue deferred maintenance needs that increase the sustainability of your building and save you money on your operations. Come hear more about this program from those who have piloted it and meet our partners Go Green Together and ThinkBox. This launch event will give you the details on how to get started in moving your organization towards a clean, green, and affordable future.

    Who can access Community Impact Initiative resources?

    – Childcare Centers
    – Food Pantries
    – Faith-Based Institutions
    – Homeless Shelters
    – Community Centers
    – Non-profit Organizations
    – Other Community-Serving Organizations

    DC Green Bank financing through the Community Impact Initiative can be used for the following:

    – HVAC Upgrades and Replacements
    – Water Efficiency
    – Building Insulation
    – Window Replacement and Remediation
    – Lighting Replacements and Upgrades
    – Roof Repairs and Replacement
    – Solar Panel Installation
    – Building Controls and Smart Systems
    – And More!

    Community Impact Initiative Launch Event

    April 26 2022