D.C. Funding Deal to Bring Solar Energy to 350 Lower-Income Homes

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.

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