DC Green Bank Provides Financing for 24 Solar Projects in DC
By Keith Loria July 17, 2023 3:35 pm
reprints
DC Green Bank, a publicly funded bank, has closed on a $385,000 loan for Uprise Solar to support 187 kilowatts of residential solar projects across Washington, D.C.
This is the latest initiative as part of the bank’s $7.5 million commitment to the community and residential solar projects across the city, which was announced in May by Mayor Muriel Bowser.
“The loan supports the financing of a portion of an existing portfolio of solar projects and will consolidate previous construction loans into a permanent loan that will finance the operation of 24 residential solar projects in the District,” according to a statement.
“We worked with several financing organizations to make these 24 projects possible, and we are fortunate to have the DC Green Bank as one of our partners,” Chris Sewell, CEO of Uprise Solar, said in the statement. “Their investments have enabled us to grow, allowing us to bring local jobs and clean energy to the city with a great market.”
The projects are projected to generate nearly 3.5 million kilowatts of renewable energy over the next two decades. They’re also slated to dramatically lower greenhouse gas emissions.
Uprise Solar is a certified contractor with Solar for All, a program of the District’s Department of Energy and Environment and administered by the DC Sustainable Energy Utility.
Update: This story originally misattributed source material. This has been corrected. We apologize for the error.
Keith Loria can be reached at Kloria@commercialobserver.com.
