Commercial Programs

Borrower Eligibility:
 Commercial and industrial (C&I) property owners, including nonprofits and multifamily properties.

(Not suitable for condominiums)
Eligible Properties:
 Property must be in Montgomery County, MD.

C&I properties or businesses and rental apartment buildings of 5 or more units.
Eligible Clean Energy Measures:
  • Energy Efficiency
  • Renewable Energy
  • New construction and retrofit projects
  • Energy savings measures
  • Energy storage
  • Solar PV
  • Geothermal
  • Combined heat and power
  • EV Charging stations
Participating Lenders:
 Search the Directory here. Filter by “C-PACE”
Loan Size:
 Minimum: $5,000

Maximum: 20% LTV for existing buildings

Maximum: Up to 20% LTV for new construction depending on code exceedance

Maximum: 90% total debt to value on property.
Financing Available:
 Up to 100% financing
Financing Terms:
 Type:  Non-accelerating term loan.  Repaid through PACE surcharge on property tax.

Term:  Up to 20 years
Rates:
 Rates vary by Participating Lender and are based on several factors, including borrower’s credit, size of loan, term, and market conditions.
Collateral:
 Recording of surcharge assessment as a priority lien on property owner’s property tax.

Must have first lender’s consent.

Borrower Eligibility:
 Commercial and industrial (C&I) property owners, including nonprofits, common ownership community associations, and multifamily properties.

Tenants of commercial properties with consent of the property owner for improvements.
Eligible Properties:
 Property must be in Montgomery County, MD.

C&I properties or businesses, rental apartment buildings of 5 or more units, condominiums, Homeownership Communities. (Condos and HOAs can be outside of Pepco service area.)
Eligible Clean Energy Measures:
  • Energy Efficiency
  • Renewable Energy
  • Measures in Pepco’s C&I energy savings program.
  • Energy storage
  • Solar PV
  • Geothermal
  • Combined heat and power
  • EV Charging stations
  • Loan can include up to 30% of costs for other improvements related to energy saving improvements.
Participating Lenders:
 Sandy Spring Bank
Loan Size:
 Minimum: $15,000
Financing Available:
 Up to 100% financing
Financing Terms:
 Tenor:  2 to 12 years.

Fixed rate term loan financing.  Loans over 7 years have a one time step up in rate in Year 7.
Rates:
 Rates vary by Participating Lender and are based on several factors, including borrower’s credit, size of loan, term, and market conditions.
Collateral:
 UCC-1 and other filings, including fixture filings, as required by the Participating Lender. Guarantee requirements as appropriate.

Borrower Eligibility:
 Small businesses with fewer than 500 employees, including nonprofits, common ownership community associations, and multifamily properties.

Tenants of commercial properties with consent of the property owner for improvements.
Eligible Properties:
 Property must be in Montgomery County, MD.

C&I properties or businesses, rental apartment buildings of 5 or more units, condominiums, Homeownership Communities.
Eligible Clean Energy Measures:
 Projects must include a renewable energy or energy efficiency component that generates energy savings or cost savings benefits.

Loan can include up to 30% of costs for other improvements related to energy saving improvements.
Participating Lenders:
 City First Enterprises
Loan Size:
 Minimum: $10,000

Maximum:  $150,000
Financing Available:
 Up to 100% financing
Financing Terms:
 Type: Unsecured or Secured by UCC-1 on fixtures

Term: Up to 5 years

Initial payment flexibility: Interest-only for six months; deferred payment for 3 months.
Rates:
 3% to 5% depending on several factors including secured / unsecured, borrower’s credit, size of loan, term, and market conditions.
Collateral:
 Secured loans use UCC-1 filings. Guarantee requirements as appropriate.

Borrower Eligibility:
 Commercial and industrial (C&I) property owners, including nonprofits, common ownership community associations, and multifamily properties.
Eligible Properties:
 Property must be in Montgomery County, MD.

In addition to traditional C&I sector properties or businesses, the PPA can reach:

  • Nonprofits
  • Rental apartment buildings of 5 or more units
  • Condominiums
Eligible Clean Energy Measures:
 Solar PV, minimum of 25 kW

Target of 200 kW, though larger solar PV system sizes are eligible and will be considered under the program.
Participating Lenders:
 Contact MCGB.
PPA Pricing:
 PPA agreement will set a fixed price per kWh of the solar energy generated from system for term of PPA agreement. (Lower starting kWh prices with an annual escalating rate option is available if customer desires.)
Financing Available:
 No out-of-pocket costs to install system
Financing Terms:
 Type: Power Purchase Agreement

Term: 20 years; longer term considered on case-by-case basis.
Collateral:
 No building/financial collateral required. PPA provider owns the solar system and retains rights over system equipment.

Borrower Eligibility:

Multi-Family property owners
Eligible Properties:

Affordable Multi-Family (rental apartment buildings of 5 or more units)
Program Administrator/Lender:

Montgomery County Green Bank
Eligible Clean Energy Measures:

Infrastructure support for up to two dual EV Charging Stations
Participating Lenders:
 Montgomery County Green Bank
Loan Size:
 The total of (i) project costs covered by state and utility incentive programs; (ii) up to a 10% gross-up above these incentives, and (iii) a gross-up of $2,000 per dual-head charger up to two chargers, or $4,000, per property.  Expectation of approximately $50,000
Financing Terms:
 Nine months.
Rates:
 A fixed rate of 0.00% per annum
Repayment:
 At project completion, repayment of i) in loan sizing from incentive amounts received from Maryland Energy Administration and Pepco incentives and rebates; items ii) and ii) of loan sizing are forgiven.
Collateral:
 Unsecured.  Green Bank will seek assignment of incentives.

Residential Programs

Rates are updated as of 12/05/2022. Rates include Montgomery County Green Bank buydown. Rates are subject to change, the Clean Energy Credit Union rates are the official rates and can be found here: https://www.cleanenergycu.org/home/loans/solar-electric-systems

Please visit cealoan.org

Borrower Eligibility:
 Homeowners in Montgomery County, Maryland.
Eligible Properties:
 Single family homes and townhomes. Property must be in Montgomery County, MD.
Eligible Clean Energy Measures:
  • Solar PV
  • Geothermal
  • Energy Storage
Participating Lenders:
 Clean Energy Credit Union
Loan Size:
 Up to $50,000 (email info@mcgreenbank.org for approval for higher amount).
Financing Terms:
  • 12, 15, and 20 year loan term options
  • Covering up to 100% of project costs with no money down.
  • Reducing the first 15 monthly payments during an introductory payment period.
  • Giving borrowers the flexibility to either keep their tax credit or pay down their loan, as they see fit.
  • Providing borrowers with the option to re-amortize once for free to lower monthly payments.
Rates:

Preferred Rates for Montgomery County:

7.49% for 12 Years

7.99% for 15 Years

8.24% for 20 Years

Rates shown are for best credit; rates vary to borrower based on several factors, including borrower’s credit, term, and market conditions. Rates are subject to change. Rates include a 2% discount for automatic payments.
Fees:
 Lender application fee: $150 per application, rolled into loan at closing.

UCC-1 fee: $100-$350, rolled into loan at closing.

Credit Union account deposit of $5.
Joining Credit Union is required.

Borrower Eligibility:
 Homeowners in Montgomery County, Maryland.
Eligible Properties:
 Single family homes and townhomes. Property must be in Montgomery County, MD.
Eligible Clean Energy Measures:
  • Solar PV
  • Solar PV + Battery Storage
  • Solar PV + Electric Vehicle Charging
Options:
  1. Purchase Subsidy
  2. Loan

Homeowners may choose either 1 or 2 or both of the above. It is not necessary to do both.
Option 1: Purchase Subsidy:
 The installer provides an upfront subsidy to cover a portion of the cost of the system by paying upfront for five (5) years of projected Solar Renewable Energy Credits (SRECs), expected to be created by the homeowner’s system. This allows the homeowner to get a value for those potential SRECs upfront to reduce the initial cost of the system. In so doing, the homeowner reduces their out-of-pocket costs for the system.

When the homeowner reviews the solar proposal with an installer, the installer will offer a SREC subsidy amount that corresponds to the first year’s expected generation of energy from the homeowner’s solar array times 0.244 as a one-time payment for the first five years of SRECs. The installer will show this SREC subsidy as a deduction from the contract price. The homeowner will only be responsible for the balance of payment after the deduction.

For the SREC subsidy to be applied, the homeowner must assign their ownership of SRECs to the installer for a period of five (5) years. The homeowner will have ownership of the SRECs after five (5) years.

SREC Subsidy Fees: There are currently no fees to the customer or the contractor for the SREC Subsidy.
Option 2: Loan:
  • Covering up to 100% of project costs with no money down.
  • Reducing the first 15 monthly payments during an introductory payment period.
  • Giving borrowers the flexibility to either keep their tax credit or pay down their loan, as they see fit.
  • Providing borrowers with the option to re-amortize once for free to lower monthly payments.
Participating Lender:
 Clean Energy Credit Union
Loan Size:
 Up to $50,000 (email info@mcgreenbank.org for approval for higher amount)
Loan Financing Terms:
  • Up to 100% of project cost
  • 12 year, 15 year, 20 year terms
  • No prepayment penalty
Loan Rates:

Preferred Rates for Montgomery County:

7.49% for 12 years

7.99% for 15 years

8.24% for 20 years

Rates shown are for best credit; rates vary to borrower based on several factors, including borrower’s credit, term, and market conditions. Rates are subject to change. Rates include a 2% discount for automatic payments.
Loan Fees:
 Lender application fee: $150 per application, rolled into loan at closing.

UCC-1 fee: $100-$350, rolled into loan at closing.

Credit Union account deposit of $5.
Joining Credit Union is required.

Borrower Eligibility:
 Homeowners in Montgomery County, Maryland.
Eligible Properties:
 Single family homes and townhomes. Property must be in Montgomery County, MD.
Eligible Clean Energy Measures:
  • Solar PV
  • Solar PV + Battery Storage
Participating Lenders:
 Sunnova
Financing Terms:
 25-year contract between homeowner and Participating Lender to purchase the electricity produced by the solar PV system installed on the homeowners’ home.
Contract Payment Options:
  1. Start by paying less per kWh than you are paying for your current electricity (5% or greater discount). Payment per kWh then goes up 1% or less each year.
  2. Pay a rate per kWh that is set at the outset near your current electricity price and has no escalator for the term of the contract.
  3. Pay a rate that is 10% less than the standard utility rate, updated once a year.

Talk to a participating installer for more information.
Payment Factor:
 The customer will only pay for the electricity generated by the solar array on the home each month.
Maintenance and Insurance:
 All maintenance costs covered by Participating Lender.

Homeowner has no responsibility to pay or maintain the system.
Fees:
 No fees!

Loan Calculator

Loan Amount
Years
Interest Rate

If you know your desired loan term and corresponding interest rate, please use the following steps:

  • Check your project contract or proposal to find the total amount of your project. Enter that in the “Loan Amount” space at the top.

  • Enter the number of years you want to take out your loan for.

  • Enter the interest rate that corresponds with the loan and term you are looking for. Interest rates provided are for best credit score. You may be approved for a higher interest rate depending on your credit score.

  • Click on the Calculate button to see your estimated monthly payment.

The results are preliminary and are not the actual loan payment amounts which will be determined by the lender after you complete your loan application with your selected lender. Monthly loan payments are fixed for the term of the loan and include interest.