D.C. United announce $25 million record PACE deal
Photo courtesy of D.C. United
Washington, D.C.’s professional soccer team has closed on the nation’s largest clean-funding deal.
D.C. United, Mayor Muriel Bowser and the Department of Energy and Environment announced the $25 million private clean energy funding package for installation of state-of-the-art energy and water efficiency measures, an 884 KW solar array and stormwater retention systems on Audi Field, United’s new soccer-specific stadium with capacity for 20,000 people opening next year, reports Soccer Wire.
The measures are funded through DOEE’s Property Assessed Clean Energy (DC PACE) program, D.C.’s innovative green funding solution that operates through a public-private-partnership, allowing local lenders to fund environmentally beneficial projects at no cost to taxpayers. This tool helps spur economic development while providing substantial environmental benefits that benefit the entire city.
The deal, through a partnership with locally-based EagleBank, marks the nation’s largest single PACE note issued to date and the first issued for a stadium project.
“D.C. United are committed to building an environmentally responsible stadium, in addition to providing a world class soccer venue,” Jason Levien, United managing general partner, said. “DC PACE funding is allowing this project to achieve LEED gold certification from the United States Green Building Council (USGBC) and to save about $125,000 annually on utility bills through LED lighting on the field and a host of other green measures throughout the site.”
The hallmark of the deal is the planned installation of 884KW of building-integrated solar panels installed on the stadium’s canopy and throughout the site. The system will provide roughly one million kilowatt hours of solar power annually, enough to offset almost a third of the stadium’s projected electricity usage. PACE will also fund high-efficiency heating and cooling systems, LED field lighting, additional building insulation, low-flow water fixtures, a green roof and stormwater management measures that meet the District’s highest standards for protecting the Anacostia River.
“We know that cities throughout the U.S. will be leading the fight against climate change, and this deal is an example of how Washington, D.C. can think globally while acting locally,” Bowser said. “This deal will not only allow us to green Audi Field, it will also create new opportunities for local businesses and high-quality green jobs for D.C. residents.”
In total, the stadium’s PACE-funded measures will result in a 25 percent reduction in energy use and will reduce emissions by 820 metric tons of CO2 annually – roughly equivalent to taking 173 cars off the road. These reductions are critical components of Washington, D.C.’s ongoing efforts to achieve the Sustainable DC and Clean Energy DC goals, which call for reducing greenhouse gas emissions by 50 percent, increasing the use of renewable energy to 50 percent of the district’s energy supply, and reducing energy use by 50 percent by 2032, officials said. In addition, through green roofs, bioretention areas and infiltration basins, the site will provide storage for more than 55,000 cubic feet of stormwater onsite.
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