About the Project:
Community Solar at Paddington Square is a 273-kW solar PV community solar project being developed by Sunlight General and Groundswell on the Housing Opportunities Commission’s (HOC) Paddington Square affordable housing rental property. The community solar array will offer 91 subscriptions to Montgomery County households of which 28 will be for low- and moderate-income households, including at least 10 for families living at the HOC property. The energy production will lead to subscriber savings of $46,000 per year, mitigating 235 metric tons of greenhouse gas emissions.
Financing Details
The Green Bank is providing a loan to the Special Purpose Entity that will be combined with sponsor equity.
Montgomery County Green Bank’s Role
The Green Bank has supported the development since its inception with Groundswell and HOC. The Green Bank providing direct loan to the project that supports ability of the project to provide the low- and moderate-income component of the project
Project Snapshot
Building Type:
The community solar project is on the rooftops of the Paddington Square Apartments in Silver Spring, MD with 91 subscriptions with 30% for low- and moderate-income households.
Property Upgrade Summary:
Rooftop installation of a 273-kW solar PV system by Sunlight General.
GHG Mitigated: 235 metric Tons
Subscriber energy savings: $46,000 per year
Loan Amount:
$926,000 direct loan by the Montgomery County Green Bank.
