(Washington, D.C.) – DC Green Bank and SEDC Solar today announced the closing of a $1.4 million construction revolving loan facility to finance a portfolio of solar plus battery storage projects for homes, rental units, and community-serving institutions in Wards 4, 5, 7, and 8 of Washington, D.C. Within the first year of the investment term, SEDC anticipates the installation of 1000 kilowatts of solar rooftop panels, resulting in an estimated greenhouse gas emissions reduction of up to 992 metric tons of CO2 equivalent per year for 20 years while also increasing both household and energy grid resilience due to the inclusion of battery storage. In line with DC Green Bank’s value of Inclusive Prosperity, the projects built in the first year will reduce the energy bills of 200 beneficiaries by approximately 50 – 80%, with roughly 75% of the recipients being Low- and Moderate- Income (LMI) households or community-serving organizations.
“We are thrilled to collaborate with SEDC Solar to finance this cutting-edge portfolio of projects that exemplifies a holistic approach to sustainability,” said Jean Nelson-Houpert, Interim Chief Executive Officer and Chief Financial Officer at DC Green Bank. “This effort is fully aligned with our mission and can be a demonstration case for combining clean energy, inclusive prosperity, and resilience, all while developing and employing the workforce of the future.”
“DC Green Bank is an indispensable partner for businesses across the District that are seeking to deliver sustainable projects and looking for financing to turn their vision into reality,” said Thomas Jones, President of SEDC Solar. “We are excited to get to work to bring these projects to life and change the way our communities think about energy in their day-to-day life – clean energy means good jobs, protection against rising utility bills, and a healthier future for our environment for generations to come.”
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