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.