District of Columbia

DC Green Bank

GREEN BANK FEATURES

Bank Model

Private/Non-profit

Bank Scope

Local

Year Est.

2018

Political Landscape

Democratic Trifecta

Initial Funding

Legislative Funding

New Instit.

Yes

Implement. Process?

The Mayor and City Council created DC Green Bank in 2018 with the District of Columbia Green Finance Authority Establishment Act.

Reporting

FY21

They serve the community, contractors, building owners, capital providers, small businesses and residents by collaborating with partners and providing financing for Clean energy solutions like Roof repairs, solar panels, HVAC replacements, building insulation upgrades, window remediation, water efficiency and lighting upgrades, energy efficiency and development projects.

FOCUS

Built a network of partnerships with multiple area private capital providers, community development financial institutions green banks and nonprofits to support the deployment of clean energy technologies, energy efficiency upgrades, and other related investments. They can either offer direct loans or work in partnership with partners, however, they focus on lowering lender risk to enter the clean energy sector and strengthen their existing portfolio.

APPROACH

GOALS

DC Green Bank provides access to capital, growing the clean economy to develop a more equitable, resilient, and sustainable DC. DC Green Bank leverages public purpose funding to attract private capital to:
  • Create jobs and spur economic growth
  • Meet the District’s sustainability and resilience goals
  • Reduce carbon emissions and install clean energy systems
  • Reduce residents’ utility costs
  • Improve infrastructure resilience
Community Impact Initiative (CII): For small businesses and community-serving organizations to receive technical and project management assistance, access to affordable loans, and additional education about how to replace and upgrade building energy systems. It qualities for: Roof repairs, solar panels, HVAC replacements, building insulation upgrades, window remediation, water efficiency and lighting upgrades, energy efficiency and development projects, and much more. Contractors: A program to increase clean energy adoption across DC while helping contractors improve their bottom line. Property Owners and Operators: Reduced-interest loans for multifamily or commercial buildings for clean energy, energy and resource efficiency, and resilience improvements Capital Providers: Partners With Local Lenders And Capital Providers To Deepen And Expand The Suite Of Clean Financing Options For Area Residents, Businesses, Organizations, Contractors, And Building Owners. Small Businesses: Small Business Loan Fund - Partnership with City First Enterprises where small businesses can apply for loans up to $150,000 at interest rates as low as 3% to upgrade to clean energy systems, increase stormwater resilience, and improve energy efficiency. Eligible systems upgrades include installing solar panels, high efficiency HVAC systems, lighting and water efficiency upgrades, insulation and building envelope retrofits, window and roof replacement, appliance upgrades and more. District Residents: participant of the CLEAN ENERGY ADVANTAGE PROGRAM, which offers residents of DC and Maryland affordable loan options to increase energy efficiency in area homes. Clean Energy Advantage is a partnership between DC Green Bank, the Maryland Clean Energy Center, the Montgomery County Green Bank, and InClime that provides a convenient way for area residents to upgrade the energy efficiency of their homes and systems and save on utility bills ON DAY ONE Products:
  • Property Assessed Clean Energy (PACE) is a financing mechanism that enables private lenders to finance building upgrades and new construction of high-performance buildings and then receive their loan repayment through the city’s property assessment.
  • The Commercial Loan for Energy Efficiency and Renewables Program (CLEER) financing provides solutions for clean energy projects in existing buildings in DC. DC Green Bank launched CLEER in partnership with Sandy Spring Bank.
  • Pre-Development Loans: Unsecured line of credit that funds customized design of energy improvements for new and existing commercial and multifamily properties, to get a jump-start on construction design for energy-efficient upgrades

PRODUCTS AND PORTFOLIO

WEBSITE: Click Here HQ ADDRESS: 1900 M St, NW 3rd Floor, c/o Tiber Hudson Washington, DC 20036 EMAIL: info@dcgreenbank.com PHONE: (202) 301-8300 FACEBOOK: No LINKEDIN: Yes TWITTER: Yes INSTAGRAM: Yes TIKTOK: No NEWSLETTER: Yes BLOG: Yes

CONTACT INFORMATION