8C — February 2023 — Environmental/Green Buildings — Owners, Developers & Managers — M id A tlantic Real Estate Journal
www.marej.com
E nvironmental /G reen B uildings
$12.4M investment supports Enterprise’s long-term goal to install solar panels across its portfolio Enterprise Community Partners & DC Green Bank Bring Solar Power to 530+ Affordable Homes
ASHINGTON, DC — Enter- prise Communi- ty Partners (Enterprise) and DC Green Bank (DCGB) announced a $12.4 million investment to in- stall 2.2 megawatts of solar panels at four affordable housing properties in the District. The properties are owned by Enterprise’s sub- sidiary Enterprise Com- munity Development , the fifth largest nonprofit hous - ing provider in the United States and the solar project developer. Funded by DCGB and Enterprise’s community W
duction insurance from kWh Analytics, enabling Enter- prise to deploy more capital with lower financing risk. “Solar energy allows us to reduce our overall carbon footprint, lower energy costs and put money back in resi- dents’ pockets all at the same time. It’s a win-win-win,” said Brian McLaughlin , presi- dent of Enterprise Community Development. “Access to re- newable energy should not be determined by income level. We’re proving that piece by piece as we bring solar power to every Enterprise property.” Underscoring Enterprise’s
commitment to environmen- tal, social and governance (ESG) investing, the so- lar panels are expected to eliminate greenhouse gas emissions by the equivalent of up to 1,794 tons of carbon dioxide each year. In addi- tion to the environmental benefits, a new community solar program will be of- fered to residents, providing subscribers a 25 percent discount on their electric bills. Enterprise Community Development, working with local community providers and installer Prospect Solar, will also offer a complete workforce development pro- gram to residents interested in a career in solar energy. “Nearly 20 percent of U.S. greenhouse gas emissions come from the residential sec- tor, which is why one of our main priorities as an organi- zation is to build climate re- silience in our communities,” said Elise Balboni , president of Enterprise Community Loan Fund. “With this invest- ment, we're demonstrating that a transition to renewables not only benefits our planet but also offers tangible eco- nomic benefits to residents.” DC Green Bank supported the project with $3.75 million in affordable construction fi - nancing. Solar and renewable energy is one of the bank’s core investment areas, and the emphasis within this project on bringing renewable energy to affordable housing properties was critical to closing the deal. “We know that a clean, renewable, and affordable future for the Dis- trict will require portfolios of projects like this to be repli- cated citywide,” said Chair of the DC Green Bank Board of Directors Brandi Colan- der . “We are proud of this partnership with Enterprise and hope that this effort will showcase the role that green banks play in transforming communities so that the bene- fits of renewable clean energy are delivered equitably and support affordable housing.” Rooftop solar panels will be installed at the Arbor View and Randle Hill apartment communities in Ward 8. So- lar carports and new electric vehicle charging stations will also be installed at The Over- look at Oxon Run in Ward 8 and Edgewood Commons in Ward 5. MAREJ
The Overlook at Oxon Run solar panels
development financial insti - tution (CDFI), Enterprise Community Loan Fund , along with Enterprise’s capi- tal subsidiary, Enterprise Community Investment ,
the investment will bring solar energy to 536 homes while supporting job creation in the District. The invest- ment is further supported by Solar Revenue Put pro-
WE MEAN BUSINESS!
Hutchinson Helps Keep Your Business Running Smoothly And Efficiently. Hutchinson is known as the region’s leader in energy services. We are experts in utilizing the latest innovative technologies that guarantee your facilities run smoothly and efficiently.
Hutchinson’s team of expert technicians and project managers design and install new and retrofit systems for commercial applications as well as service and maintain your existing equipment to ensure energy-efficiency, reliability, and comfort to your employees.
Turn-key Design Build | Energy Efficiency Services | Planned Maintenance Contact us today to have one of our energy experts help you get started.
© By Hutchinson. All rights reserved. Plumbing Lic #36B100504100. HVAC Lic #19HC00193700. HIC Lic #13VH09997600 888-777-4501 • HUTCHBIZ.com Serving the Greater Tri-State Region, including South Jersey, Central Jersey, Philadelphia and its suburbs and Northern Delaware.
Made with FlippingBook - Online catalogs