Montgomery County Green Bank is making news! Follow the links below to learn more about how we work and what we’ve been up to.
The Paddington Square Apartments complex in Silver Spring is the site of Montgomery County’s first community solar panel project, leaders announced at the residences Tuesday.
The 286 kilowatts of solar panel energy will be subscribed to county households in increments of about three kilowatts per household, Montgomery County Green Bank CEO Tom Deyo said. Those who are renting or cannot put solar panels on their homes can still subscribe and participate in the program. It will reduce greenhouse gas emissions by over 235 metric tons each year, or the equivalent of 51 cars taken off the road annually, Deyo said.
The first community solar project in Montgomery County, Maryland, that launched Tuesday is a step toward the county’s goal of zero greenhouse gas emissions by 2035, and it’ll help people in low- and moderate-income households a few different ways.
“It’s a double victory. It’s good for the residents here. But it also makes sure they get to maintain affordable housing,” County Executive Marc Elrich said.
On Lanier Drive in Silver Spring, elected officials and solar energy advocates gathered Tuesday to commemorate what will be the first community solar project to come online in Montgomery County, starting next month.
A 273-kilowatt installation on the roofs of the Paddington Square apartment complex will serve 91 households and remove 235 metric tons of greenhouse gas emissions versus fossil fuels — the equivalent of taking about 51 cars off the road annually.
The Montgomery County Green Bank and Sandy Spring Bank have teamed up to finance the re-opening of the Olney Ale House.
The ale house has been closed since 2019 when a kitchen fire caused $250 thousand in damages. New building plans had to be made for the hundred-year-old building and the pandemic pushed the opening date back even further.
Now, as part of the Commercial Loan for Energy Efficiency and Renewables (CLEER) Program, the Olney Ale House will receive a loan to help pay for the installation of more efficient cooking equipment, air handling, window and climate controls. The kitchen will also be redesigned to assist in the pandemic fueled growing take-out and delivery business, according to a Green Bank press release.
The Montgomery County Council is considering a measure that would require existing buildings over 25,000 square feet to cut their greenhouse gas emissions as part of its larger effort to tackle climate issues in the county.
The bill amends previous legislation that required owners of commercial buildings over 50,000 square feet to monitor and report their energy use to the county’s Department of Environmental Protection every year. The proposed measure would add another 1,000 buildings to that list, for a total of nearly 5,000.
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.
The Montgomery County Green Bank and Sandy Spring Bank Tuesday announced they have partnered to help another commercial property in the county implement energy-saving measures that will improve operating costs and reduce greenhouse gas emissions.
The Green Bank hit the Internet in August to talk about its financing options for solar energy and energy efficiency improvements. CEO Tom Deyo discussed the Green Bank’s approach to financing efficiency and renewable energy upgrades on a recent episode of the podcast Solar Now and the Future with its Economic Impact on Black America.
The Montgomery County Green Bank’s work over the last year was highlighted in this annual report published by the American Green Bank Consortium on the many efforts undertaken by green banks throughout the US. The report may also be found at the American Green Bank Consortium website.
BETHESDA – The Montgomery County Green Bank, a nonprofit created by the county, brought together several of its partners to celebrate the completion as a significant energy savings project in Bethesda on Dec. 12.
BETHESDA, Md. (WDVM) — In light of recent climate rallies and protests on climate change, Montgomery County now celebrates its first local green bank – ever. The Montgomery County Green Bank’s focus is on affordable clean energy and investments.
The financial mechanisms are bringing investors to renewables and distributed energy as utilities, co-ops and munis move away from uneconomic legacy assets.
Microgrid Knowledge – Launched by the Coalition for Green Capital, founding members of the consortium include the Baltimore Climate Access Fund, the Connecticut Green Bank, the Florida Solar Energy Loan Fund, the Hawaii GEMS financing program, Inclusive Prosperity Capital, Michigan Saves, the Montgomery County Green Bank, the Nevada Clean Energy Fund, the New York City Energy Efficiency Corporation, and the Rhode Island Infrastructure Bank.
Issue Brief: How green banks are driving energy efficiency and improvements in affordable housing.
This paper provides a basic explanation of green banks, the benefits they offer, issues local governments might consider when deciding whether to create a green bank, and several case studies. It also provides information on other green banking opportunities for local governments.
Washington Business Journal – Montgomery County Green Bank is launching its first loan product for businesses to finance energy efficiency projects — part of a larger plan to spend $14 million in settlement money from the 2016 acquisition of Pepco Holdings Inc. by Exelon Corp.
PR Newswire – Today, Montgomery County Green Bank is announcing the Commercial Loan for Energy Efficiency and Renewables (CLEER), a new lending program with partners Revere Bank and Ascentium Capital LLC. The program is aimed at supporting commercial and industrial businesses that are planning to make clean energy or energy efficiency upgrades to their properties in Montgomery County, Maryland.
Women’s Bar Association article on new Montgomery County Green Bank.
Montgomery Green Bank Names Tom Deyo as First CEO (June 15, 2017)
MyMCMedia – The Board of Directors of the Montgomery County Green Bank (MCGB) has announced Tom Deyo as its first Chief Executive Officer.
What does the green bank landscape look like? (October 4, 2016)
GreenBiz.com – A recent report by the American Council for an Energy-Efficient Economy (ACEEE) analyzes six active green banks with a focus on energy efficiency: Connecticut Green Bank, Hawaii Green Infrastructure Authority, Michigan Saves, Montgomery County Green Bank, NY Green Bank and the Rhode Island Infrastructure Bank.
Nation’s First Local Green Bank Designated in Montgomery County, MD (August 3, 2016)
Coalition for Green Capital – Yesterday, the nation’s first local Green Bank, the Montgomery County Green Bank, was designated as the County’s official Green Bank by the Montgomery County (MD) Council. The Montgomery County Green Bank will allow residents and businesses in Montgomery County to access low-cost financing for clean energy and energy efficiency projects.
Green Banking Goes Local (July 13, 2015)
Brookings Institute – In June Montgomery County, Md. became the first local jurisdiction in the nation to create a green bank. Green banks provide financing for renewable energy and energy-efficiency projects that commercial sources will not yet provide on their own, and Montgomery County’s will leverage public and private funds to drive investment and scale up clean energy deployment.