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Developers and lenders: D.C. Green Bank and PACE financing are central to projects and jobs — cutting capital hinders construction and retrofits
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Summary
Developers, PACE lenders and local installers urged the D.C. Council to preserve funding for the DC Green Bank and predictable Sustainable Energy Trust Fund flows, saying many solar, retrofit and affordable-housing projects depend on the bank—s underwriting, introductions and gap finance.
Developers, capital providers and local contractors told the Council that the DC Green Bank (also called the Green Finance Authority) is a key partner in getting clean-energy and retrofit projects funded and built — and that the mayor—s proposed FY26 reduction to the bank—s budget threatens ongoing deals and construction pipelines.
Why it matters: Several witnesses described projects that use PACE (Property Assessed Clean Energy) or Green Bank loan products and said that underwriting certainty from the Green Bank allowed lenders to commit private capital. "The DC Green Bank was critical in getting the financing completed and hence the project off the ground," said John Fox of Enterprise Community Development of a rooftop and portfolio solar program that will provide electricity-cost savings and workforce training for hundreds of residents.
What lenders and developers said
- PACE and Green Bank roles: Christian DeLisi (PACE Equity) and Ryan Doyle (Nuveen Green Capital) explained that clean-energy commercial financing commonly requires an administrator or a municipal partner to manage programs and verify savings and that the DC Green Bank serves that function in D.C. Doyle said Nuveen has provided capital across multiple property types and that the Green Bank—s role enables smaller projects and educational deployments that private lenders otherwise decline.
- Project examples: Jessica Pitts (Flywheel Development) described rooftop community-solar arrays and new net-zero warehouse projects enabled by Green Bank financing; John Fox (Enterprise) noted 3.3 MW of rooftop solar across 13 properties that will lower household electric costs for residents and create local jobs.
- Creditworthiness and market confidence: Lenders said the predictability of a local partner—s capitalization matters. Jamal Lewis, who chairs the DCSEU advisory board and supports the DCSEU, warned that removing predictable SETF support and lowering contract minima would make private lenders hesitate to commit capital or would change procurement toward lowest-cost bidders rather than programs that maximize equity and savings.
- Local small-business impact: Local roofing, solar and green-infrastructure contractors said predictable Green Bank and SETF flows help them plan staffing and training for specialized green jobs. "If the Green Bank does not receive full capitalization, private lenders will be nervous to work with it," said Nicole Steele, who described how capital leverage depends on the bank—s credibility.
Ending: Multiple private-sector witnesses urged the council to preserve predictable capitalization and contract minima for the Green Bank and to avoid converting SETF and other special-purpose funds to lapsing uses. "Without consistency, we cannot operate," said developer Abraham Sokwar. The group recommended restoring funding and exploring options to securitize or bond-capitalize predictable long-term funding for green financing programs.
