DC Awarded $4.6 Million by U.S. DOE to Launch New Loan Fund to Increase Energy Efficiency in Affordable Housing

CONTACT:

Dan Lebiednik
Communications and Outreach Manager - DC Green Bank
[email protected] - (202)301-8308

Nicole Goines
Public Information Officer - DOEE
[email protected] - (202)536-7666

(Washington, D.C.) - The District's Department of Energy and Environment (DOEE) was awarded $4.6 million by the U.S. Department of Energy to establish an innovative loan fund led by DC Green Bank to boost energy efficiency improvements in affordable housing. Led by DC Green Bank, the loan fund will help make affordable housing greener and help the District achieve its ambitious sustainability and equity goals by providing lower-cost capital for energy-efficiency upgrades.

The new Energy Efficiency Revolving Loan Fund will provide financing at below-market rates for enhanced energy efficiency improvements in affordable housing construction and building upgrades. DOEE and DC Green Bank will operate the loan fund and collaborate with the District's Department of Housing and Community Development (DHCD) to identify eligible projects within DC's Housing Production Trust Fund pipeline.

The Energy Efficiency Revolving Loan Fund will support Mayor Bowser's goals to deliver at least 12,000 affordable housing units by 2025 and achieve carbon neutrality for the District by 2045.

"This new fund will create an opportunity for affordable housing developers to incorporate deeper energy-efficient improvements into their buildings, helping the District meet its climate goals," said DOEE Director Richard Jackson. "By supporting the development of high-performance buildings that stretch beyond our current standards, we're leading the way to a more sustainable and prosperous future."

"This award will enable us to bring together the public and private sectors to invest in the clean energy economy and deliver the benefits of green development to underserved communities," said DC Green Bank CEO Trisha Miller. "This revolving loan fund will support direct investment in a more equitable and sustainable DC."

"We're excited to be able to use this fund to achieve both sustainability and affordability in the District's housing stock," said DHCD Director Colleen Green. "This new program demonstrates the power of collaboration to deliver the benefits of a clean economy to more of our residents."

About DC Green

BankDC Green Bank develops and facilitates innovative financial solutions to support District businesses, organizations, and residents on the path to a cleaner future for all. We invest in solar energy systems, energy efficient buildings and retrofits, green stormwater infrastructure, and transportation electrification in line with our values of Sustainability, Clean Economy, and Inclusive Prosperity. To date, DC Green Bank has invested millions of dollars in a cleaner, greener, and more equitable future. To learn more, please visit dcgreenbank.com.

About the Department of Energy and Environment (DOEE)

The Department of Energy and Environment (DOEE) is the leading authority on energy and environmental issues affecting the District of Columbia. Using a combination of regulations, outreach, education, and incentives, our agency administers programs and services to fulfill our mission. We work collaboratively with other government agencies, residents, businesses, and institutions to promote environmentally responsible behavior that will lead to a more sustainable urban environment.

Public link

Please use the above public link if you want to share this noodl on another website.