Commercial, Solar, Sourcing Renewables  -  August 15, 2018

D.C.’s oldest bank is first to go solar

National Capital Bank, the oldest in Washington, has completed the installation of 60 solar panels on its bank building at Pennsylvania Avenue, becoming the first bank in the District of Columbia to be powered by solar energy.

A report by PV Magazine said the solar panels will provide as much as 8% of the bank’s electricity needs and will create approximately 50 Solar Renewable Energy Credits (SRECs) annually that will generate savings and will result in savings from tax credits and accelerated depreciation.

"The initial motivation for installing the panels was economic, but the more we discussed the project, the more enthusiastic we became about the intrinsic value of the solar array," notes Richard B. (Randy) Anderson, Jr., president and CEO. "We see it as a statement of our mission to be a good corporate citizen serving the needs of our community, its citizens, and its businesses by employing a renewable energy source and decreasing our carbon footprint.  As we explored the idea, we found that the roof of our office in the Capitol Hill community was ideal for solar panels," Anderson continued. "The building’s height means that there is no shade on the roof, and the flatness facilitated the installation of the panels."

Tommy Wells, director of D.C.’s Department of Energy and Environment noted the District is actively promoting Sustainability Guidelines for Historic Districts. "We’re thrilled NCB has taken the initiative to install a solar array on their building, showing how any business can take advantage of renewable energy options in the District," adding that the installation is "a great example of how next-generation clean energy systems can be integrated into historic neighborhoods to achieve Mayor Bowser’s citywide climate and energy goals."