By: Isabelle Elizondo On: September 12, 2023 In: Comments: 0

DC Green Bank and SEDC Solar 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.The project financing will utilize Opportunity Zone incentives to deliver the intended community benefits and will also seek to leverage new Investment Tax Credit provisions in the federal Inflation Reduction Act as well.

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