About the Project:
Stewart Avenue Warehouses uses a Commercial Loan for Energy Efficiency and Renewables (CLEER) loan and a co-lending participation by the Green Bank to install a 412kW solar PV system and sell the electricity output via community solar subscriptions from the warehouse tenants and subscribers within the Pepco territory. The solar PV system will produce 515,000 kWh in its first year and generate an average of 491,256 kWh per year over the next 20 years. This energy production will lead to subscriber savings of $88,209 per year, mitigating 348 metric tons of greenhouse gas emissions.
Financing Details
The total project cost will be financed through a CLEER loan originated by Sandy Spring Bank in conjunction with participation capital provided by the Green Bank.
Montgomery County Green Bank’s Role
Through the Montgomery County Green Bank’s CLEER program, the Stewart Avenue Warehouses are able to access flexible capital at an affordable rate.
Project Snapshot
Building Type:
The Stewart Avenue Warehouses are industrial warehouses in Silver Spring, MD.
Property Upgrade Summary:
Rooftop installation of a 412kW solar system by New Columbia Solar.
Loan Amount:
$1,125,000, including a Commercial Loan for Energy Efficiency and Renewables (“CLEER”) by Sandy Spring Bank and participation by the Montgomery County Green Bank.
