Climate Clips: DC PACE Program Hits Milestone With $6.1 Million Deal, Surpassing $100 Million In Total Loans Facilitated

The DC PACE Program and Twain Community Partners III LLC are proud to announce the successful closing of $6.1 million in financing to deliver energy efficiency and renewable energy upgrades to transform an existing, underutilized office building into a 105-key boutique hotel. The Canal House of Georgetown will be part of Marriott’s Independent Tribute Portfolio, with Douglas Development Corporation spearheading this project as owner and developer. This deal propels the DC PACE Program past the monumental $100 million mark in PACE financing since its inception.

See the full story at DC Green Bank.

More DMV News

Fairfax Wants You to Take the ‘Two-Degree Challenge’
With winter on the way, that means temperatures will be dropping and energy bills possibly going up. Fairfax County officials are encouraging residents to find a creative way to stay warm and save money this winter with the two-degree challenge. The two-degree challenge calls for turning your thermostat down by at least two degrees to reduce energy consumption and potentially save money.

Prince William Soon to Be New Data Center King: Digital Gateway Approved
Potomac Local News
Following approval of the massive PW Digital Gateway project, the Manassas National Battlefield Park will get some new neighbors — data centers.

Dominion Regulator Recommends Rejection of Utility’s Long-Term Plan
Virginia Mercury
A utility regulator with the State Corporation Commission is recommending the body reject Dominion Energy’s most recent long-term plan because it includes new natural gas plants.

Maryland Becomes 10th State to Adopt Life-Saving Clean Trucks Standards
Sierra Club
Following official publication in the state’s Register, Maryland has become the tenth state to adopt the Advanced Clean Trucks (ACT) rule. The new standard sets targets for delivery of new zero-emission medium- and heavy-duty vehicles to the state that gradually increase each year.

National and International News

In a First, Nations at Climate Summit Agree to Move Away From Fossil Fuels
New York Times
For the first time since nations began meeting three decades ago to confront climate change, diplomats from nearly 200 countries approved a global pact that explicitly calls for “transitioning away from fossil fuels” like oil, gas and coal that are dangerously heating the planet.

Climate Reparations are Becoming a Reality. Here’s What They Could Look Like.
The legacy of the COP28 climate summit, which concluded this week in Dubai, hinges on the success of a new international fund that was announced to great fanfare on the very first day of the conference. The stakes could hardly be higher: The so-called loss-and-damage fund is considered an essential resource for the survival of the countries most affected by the 1.2 degrees Celsius of global warming that has already occurred.

Chart: The US Installed More Solar in 2023 Than Ever Before
Canary Media
This has been a record-shattering year for U.S. solar power. When 2023 comes to a close, nearly 33 gigawatts of solar capacity will have been installed across the country, according to the forecasts in the latest Solar Market Insights report from the Solar Energy Industries Association and Wood Mackenzie. That’s a significant leap from the 21 gigawatts installed in 2022 and the largest annual addition of solar in the nation’s history.

Americans Like Home Electrification — But Also Still Love Their Gas Stoves
Canary Media
Most Americans would prefer to live in a home where almost all major appliances run on electricity — but only if they can keep their gas stoves. Just 31 percent want to go fully electric.

After a Record 2023, Coal Headed for Decline, Analysts Say
Yale Environment 360
Global coal demand hit a record high in 2023, but with the renewables buildout continuing apace in China, coal is headed for a decline over the next two years, according to a new analysis.