Author Archives: Joshua Myers

Notice of December 8, 2021 Board Meeting

Date: Wednesday Wednesday December 8, 2021, 11:00-2:00 PM
Location: Teleconference

The Montgomery County Green Bank will be holding a Board of Directors Meeting on Wednesday December 8, 2021, 11:00-2:00 PM. The public is permitted to attend this meeting.  If you would like to be there, please RSVP in advance to info@mcgreenbank.org. The meeting agenda will be posted when available.

Notice of December 1 & 8, 2021 Board Meeting

Date: Wednesday Wednesday December 1, 2021, 12:00-3:00 PM
Location: Teleconference

The Montgomery County Green Bank will be holding a Board of Directors Meeting on Wednesday December 1, 2021, 12:00-3:00 PM. The public is permitted to attend this meeting.  If you would like to be there, please RSVP in advance to info@mcgreenbank.org. The meeting agenda is here.

 

Date: Wednesday Wednesday December 8, 2021, 11:00-2:00 PM
Location: Teleconference

The Montgomery County Green Bank will be holding a Board of Directors Meeting on Wednesday December 8, 2021, 11:00-2:00 PM. The public is permitted to attend this meeting.  If you would like to be there, please RSVP in advance to info@mcgreenbank.org. The meeting agenda is here.

Clean Energy Accelerator Funding for Local Green Banks

President Biden’s Build Back Better Framework Includes Clean Energy Accelerator Funding for Local Green Banks

 

Montgomery County, M.D. (October 29, 2021) – President Biden announced the Build Back Better framework, including funding for a national green bank that can support green banks across the nation. The Clean Energy and Sustainability Accelerator, which was proposed by Sen. Chris Van Hollen (D-Md.), Sen. Edward J. Markey (D-Mass.), and U.S. Rep. Debbie Dingell (D, MI-12), will support local and state green banks, including the Montgomery County Green Bank.

The Build Back Better framework will set the United States on course to meet its climate goals, create millions of good-paying jobs, enable more Americans to join and remain in the labor force, and grow the economy. Specifically, as part of the framework, the new Clean Energy and Sustainability Accelerator will advance clean energy investment across the country and promote environmental justice by delivering 40% of the benefits of investment to disadvantaged communities as part of the President’s Justice40 initiative.

“The Clean Energy and Sustainability Accelerator included in the budget reconciliation package will make local public funds go further to make the clean energy transition occur faster,” said Tom Deyo, CEO of the Montgomery County Green Bank. “This national resource will leverage local public and private dollars to significantly scale up the investment needed to address local critical climate adaptive improvements as undertaken by the Montgomery County Green Bank and be key to helping the County achieve its goal of 0% greenhouse gas emissions by 2035 as outlined  in the Montgomery County Climate Action Plan.”

“The Accelerator’s funding fits with the partners and programs already in place by the Montgomery County Green Bank,” said Bonnie Norman, Chair of the Montgomery County Green Bank. “This national investment will greatly further the positive change of the Green Bank’s inclusive and affordable climate smart solutions and support the continuing accessibility of these offerings to all in our communities.  We greatly appreciate the leadership of Senator Van Hollen, Senator Markey, and Representative Dingell for promoting this funding for the clean energy transformational work of green banks, the efforts of the Coalition for Green Capital to champion this endeavor, and inclusion of this funding by President Biden in the Build Back Better framework.”

The Build Back Better framework is the largest effort to combat the climate crisis in American history. The framework’s $555 billion investment represents the largest single investment in our clean energy economy in history, across buildings, transportation, industry, electricity, agriculture, and climate-smart practices across lands and waters.  The framework will set the United States on course to meet its climate targets, achieving a 50-52% reduction in greenhouse gas emissions below 2005 levels in 2030.

About the Montgomery County Green Bank

The Montgomery County Green Bank is an independent, 501(c)(3) nonprofit dedicated to helping businesses and residents affordably implement energy efficiency and clean energy solutions. The Green Bank supports the county by driving investment into energy efficiency and clean energy through lending and investment partners in the region. These efforts include working with homeowners, renters, and commercial entities of all varieties. For more information, visit www.mcgreenbank.org.

Olney Ale House

Project Snapshot

Olney Ale House

About the Building

The Olney Ale House is an iconic and historic restaurant located in Olney, MD that has served the community since the 1920s.

Property Upgrade Summary

Improvements to recover from a fire in 2019 and from the impact of the COVID-19 pandemic. The Olney Ale House used funds to rebuild a greener and more flexible space with dining options.

Green Bank Financing

Approximately $200,000 in a loan from Sandy Spring Bank, backed by the Green Bank Commercial Loan for Energy Efficiency and Renewables (“CLEER”) program. Closed June 2021.

About the Project

Sandy Spring Bank, backed by the Montgomery County Green Bank’s CLEER Program to help the Olney Ale House rebuild a more energy efficient and more flexible space with dining options following a fire that closed the restaurant in 2019.

Montgomery County Green Bank’s Role

The Montgomery County Green Bank and Sandy Spring Bank have a partnership with the Commercial Loan for Energy Efficiency and Renewables Program that brings needed capital to support businesses like the Olney Ale House. The Green Bank works closely with Sandy Spring to identify ways to reach customers with strong business banking solutions alongside a focus on energy efficiency.

Restaurants across the county have been working to reopen and grow following the challenges created by the COVID-19 pandemic. For those who can benefit from decreasing operating expenses because of energy efficient equipment, infrastructure, and their physical space, the CLEER program is a way to make those investments in a way that generates net positive cash flow.

Notice of November 4, 2021 Board Meeting

Date: Wednesday November 4, 2021, 8:00-10:00 AM
Location: Teleconference

The Montgomery County Green Bank will be holding a Board of Directors Meeting on Thursday November 04, 2021, 8:00-10:00 AM. The public is permitted to attend this meeting.  If you would like to be there, please RSVP in advance to info@mcgreenbank.org. The meeting agenda may be found here..

Clarksburg Condominiums EV Project

Project Snapshot

Clarksburg Condominiums EV Project

About the Building

Two condominium buildings located off Interstate 270 in Clarksburg, Maryland

Property Upgrade Summary

Installation of electric vehicle supply equipment (EVSE) and six electric vehicle (EV) chargers in the condominium parking lot. Equivalent to mitigating 55 metric tons of carbon dioxide per year. 

Green Bank Financing

$60,000 loan in conjunction with City First Enterprises for acquisition, installation, and electrification of six EV chargers. Closed July 2021. 

About the Project

The Green Bank, in partnership with City First Enterprises, closed a $60,000 loan to help the Clarksburg Condominium II association fund an electric vehicle supply equipment (EVSE) infrastructure project. Through this project, the Clarksburg Condominium II will install six EV chargers on the property for use by its residents and contribute to mitigating 55 metric tons of carbon dioxide per year. Common Ownership Communities across the county are considering ways to install EVSE infrastructure and serve their communities. The partnership between the Green Bank and City First Enterprises provides for financing flexibility to meet those goals. 

Financing Details

The Green Bank with City First Enterprises (CFE) provided the capital necessary for the energy efficiency measures.  

Small Business Energy Savings Support program loan from Green Bank/CFE $60,000

Montgomery County Green Bank’s Role

The Montgomery County Green Bank and City First Enterprise’s Small Business Energy Savings Support Program brought partner and the needed capital to support the Clarksburg Condominium II project.  The Green Bank works closely with the Montgomery County Commission on Common Ownership Communities to help association boards execute on long term energy plans and financing strategies to be able to implement projects.  

Community Solar Project in Montgomery County Celebrated As It Breaks Ground

Equity-Focused Installation Is First of Its Kind in Montgomery County

 

Media contact: Tom Deyo, Montgomery County Green Bank Chief Executive Officer, at tdeyo@mcgreenbank.org

Montgomery County, MD, August 19, 2021 — On August 17, Montgomery County’s first community solar project to include a set aside for low- and moderate-income (LMI) households was celebrated at a ground-breaking at Paddington Square Apartments, the host property for the solar array project. Conventional solar projects often include financial barriers around credit and long-term contracts that can limit solar access to many. The Community Solar at Paddington Square project breaks down all the barriers.

And, this community solar project will reduce green house gas emissions by 235 metric tons per year, which is equivalent to removing 51 cars from the road each year.

This community solar project is part of Maryland’s community solar pilot program, which includes dedicated solar capacity for projects that serve LMI residents.  The Community Solar at Paddington Square project will offer 91 subscriptions to local households who want to be a part of an equitable clean energy future for Montgomery County with 28 of these subscriptions set aside for low- and moderate-income households. Any Maryland resident who receives a Pepco utility bill can sign up, and everyone who subscribes will receive a monthly credit on their Pepco bill

“The Paddington Square community solar project aligns with the County’s efforts to combat climate change and eliminate greenhouse gas emissions by 2035,” said County Executive Marc Elrich.  “I applaud the project’s attention to members in our community who are most vulnerable to the impacts of climate change and I am appreciative of the hard work of the project partners to bring this project into fruition.”

This project is an effort of many players. The Housing Opportunities Commission is hosting the solar array on its Paddington Square property.  Groundswell was the project’s developer and uses the nonprofit’s innovative SharePowerTM model to support the lower income earning households.  SunLight General Capital and the Montgomery County Green Bank, a county-designated nonprofit to advance clean energy finance in the county, are financing the equity-focused project.  SunCatch Energy will construct the community solar array.

“We are excited to see this equitable community solar project come online to offer the opportunity for all residents to have access to renewable energy,” said Tom Deyo, CEO of the Montgomery County Green Bank.  “The collaboration with Pepco, the County, and the project partners has made this effort possible to deliver benefits to County residents and to support the County’s drive to meet its greenhouse gas reduction goals.”

By using Groundswell’s innovative SharePowerTM model, the Community Solar at Paddington Square project equitably expands solar access by putting income-qualified households first to receive solar savings. As a result, the 28 “Empowered” households can enroll to SharePowerTM and receive a no-cost community solar subscription to cut their electricity bill in half.

“Solar energy is abundant, and community solar is a perfect way to equitably share power and savings with our neighbors,” commented Groundswell CEO Michelle Moore.

“Our commitment to helping people reach their fullest potential is centered around the supports that put families in a position to thrive,” said HOC Acting Executive Director Kayrine Brown. “Access to clean, renewable energy alternatives ensures that all households in our community, irrespective of income, can achieve utility savings while positively contributing to the environment around them. HOC is incredibly proud of the partnership that brought this to bear and we look forward to more collaborative opportunities around solar energy in the future.”

About the Montgomery County Green Bank:  The Montgomery County Green Bank is an independent, 501(c)(3) nonprofit dedicated to helping businesses and residents affordably implement energy efficiency and clean energy solutions. The Green Bank supports the county by driving investment into energy efficiency and clean energy through lending and investment partners in the region. These efforts include working with homeowners, renters, and commercial entities of all varieties. For more information, visit www.mcgreenbank.org.

About Groundswell:  Groundswell is a 501c3 nonprofit that builds community power through equitable community solar projects and resilience centers, clean energy programs that reduce energy burdens, and pioneering research initiatives that help light the way to clean energy futures for all. Groundswell leads clean energy programs and projects in six states including the District of Columbia, including serving more than 4,000 income-qualified customers with more than $1.85 million per year in clean energy savings. Learn more at Groundswell.org or @grndswell.

About the Housing Opportunities Commission of Montgomery County (HOC): The Housing Opportunities Commission of Montgomery County provides affordable housing and supportive services that enhance the lives of low- and moderate-income families and individuals. HOC is a property owner and operator, and a vertically-integrated developer, focusing on three things: getting people housed, keeping people housed, and helping customers reach their fullest potential. HOC serves more than 15,000 Montgomery County residents, owns more than 8,000 rental units, and provides assistance to more than 7,000 low-income households – many of whom are seniors and persons with disabilities – through the Housing Choice Voucher program. For more information visit www.hocmc.org.

Olney Ale House Re-Opening Supported by Green Bank and Sandy Spring Bank

July 20, 2021

For Immediate Release:

Media contact: Tom Deyo, Montgomery County Green Bank Chief Executive Officer, at tdeyo@mcgreenbank.org; Sam Price, Vice President, Public Relations and Corporate Partnerships Manager, Sandy Spring Bank, sprice@sandyspringbank.com.

OLNEY, MD – The Montgomery County Green Bank (“Green Bank”) and Sandy Spring Bank have joined together to provide flexible financing to help re-open the Olney Ale House. The financing helps Olney Ale House introduce improvements to recover from a 2019 fire and from the impact of the COVID-19 pandemic all while reducing operating costs and energy consumption.

Through the Green Bank’s partnership with Sandy Spring Bank in the Commercial Loan for Energy Efficiency and Renewables (CLEER) program, Sandy Spring Bank is providing a loan to help Olney Ale House access the funds needed to install more efficient cooking equipment, air handling, windows, and climate controls. The kitchen will also be reconfigured to accommodate the restaurant’s growing take-out and delivery business resulting from the pandemic.

“Thanks to community support and our partnership with the Montgomery County Green Bank and Sandy Spring Bank, we look forward to welcoming our guests back to the Ale House,” said owner John Roach. “Because of funding through the Green Bank’s CLEER program with Sandy Spring Bank, we’re returning stronger, healthier, and more resilient than before.”

“This is the type of investment our community needs now more than ever, and we are honored to partner with the Montgomery County Green Bank for the fourth time to boost green, energy savings projects in commercial and residential properties in Montgomery County,” said Ken Cook, executive vice president of Commercial Banking at Sandy Spring Bank. “We look forward to visiting the Olney Ale House once it reopens to the community.”
“Our partnership with Olney Ale House and Sandy Spring Bank to provide CLEER financing for their recovery is at the heart of the Green Bank’s vision,” said Tom Deyo, CEO of the Green Bank. “We want to be right there with the County’s businesses, our partner lenders, and County government to assist commercial business property owners with improving operating benefits from energy savings as well as health, safety, and resiliency and help these businesses emerge from the COVID-19 pandemic.”

The Green Bank launched the CLEER program to support commercial, industrial, nonprofit, institutional, and multifamily properties. The CLEER program partners with community lenders to share the risk in loans that support businesses re-building with energy efficient measures that create healthier indoor spaces. These improvements bring short- and long-term operational benefits of

reduced operating costs to the properties while the lower energy consumption supports to the County’s climate goals by reducing greenhouse gas emissions. The CLEER program provides 100% financing, extended loan terms (up to 12 years), and can include up to 30% of non-energy related costs.

About Montgomery County Green Bank The Montgomery County Green Bank is an independent, 501(c)(3) nonprofit dedicated to helping businesses and residents affordably implement energy efficiency and clean energy solutions. The Green Bank supports the county by driving investment into energy efficiency and clean energy through lending and investment partners in the region. These efforts include working with homeowners, renters, and commercial entities of all varieties. For more information, visit www.mcgreenbank.org.

About Sandy Spring Bancorp, Inc. Sandy Spring Bancorp, Inc., headquartered in Olney, Maryland, is the holding company for Sandy Spring Bank, a premier community bank in the Greater Washington, D.C. region. With over 60 locations, the bank offers a broad range of commercial and retail banking, mortgage, private banking, and trust services throughout Maryland, Northern Virginia, and Washington, D.C. Through its subsidiaries, Rembert Pendleton Jackson, Sandy Spring Insurance Corporation and West Financial Services, Inc., Sandy Spring Bank also offers a comprehensive menu of insurance and wealth management services. For more information, www.sandyspringbank.com.

Notice of September 29, 2021 Board Meeting

Date: Wednesday September 29, 2021, 1:30-4:30 pm
Location: Teleconference

The Montgomery County Green Bank will be holding a Board of Directors Meeting on Wednesday September 29, 2021, 1:30-4:30 pm. The public is permitted to attend this meeting.  If you would like to be there, please RSVP in advance to info@mcgreenbank.org. The meeting agenda may be found here..

The Smartest Way to Finance Clean Energy That You’ve Never Heard Of

Vox News released an article explaining the green energy financing you may have never heard of if you are new to Green Banks!

A snippet from the article reads:

“In the United States, financing infrastructure and clean energy projects is often contingent on the quirks of partisan dealmaking in Congress. But there may be a better way.

A green bank model has been successful in several other countries. The United Kingdom’s green bank funded much of its offshore wind boom before the government sold it in 2017. (The current UK government is exploring bringing it back.) Through Australia’s green bank, the largest in the world, the country has invested in wind, solar, and hydrogen development in addition to financing the construction of energy-efficient homes.

A green bank isn’t government grants, and it’s not tax credits — which are the primary federal drivers of clean energy development in the United States. Instead, these banks typically take the form of either a government-owned or quasi-public bank that takes a set amount of government money to launch and then leverages private money to fund different projects. And like private banks, green banks expect to be paid back.”

You can read the full article by clicking here. 

Green Bank Seeking RFQ from Strategic Planner

The Montgomery County Green Bank Corporation (the “Green Bank”) is issuing a Request For
Quotation (“RFQ”) from experienced strategic planning professionals (“the Consultant”) to
support development of a new 3-year strategic plan for the Montgomery County Green Bank.
The engagement is to start in mid-July and last through spring 2022.

The Consultant will be key to revising the current strategic plan that ends in June 2022 and
setting the aggressive course for the Green Bank for the next 3 years. The Consultant will be
integral to this process working with the Green Bank Board, stakeholders, and staff to assess
current progress, County needs and drivers, and define the goals and strategies for reaching
significant growth and depth in the Green Bank’s mission. Important in this planning exercise
will be to assure the Green Bank’s goals and strategies are equitable, inclusive and impactful.

Read the full RFQ by clicking here. 

Green Bank is Hiring a Communications and Community Engagement Manager

The Green Bank is looking for an experienced communications professional to join the team and increase awareness across the County of the Green Bank’s support of clean energy and energy efficiency. The position will execute a comprehensive communication strategy and manage a community engagement effort to assure that all populations in the County are aware of Green Bank offerings and the opportunities they offer.

Learn more about the position here.