Washington’s Oldest Bank First to be Powered by Solar Energy

National Capital Bank (NCB) has completed the installation of 60 solar panels on its bank building located at 316 Pennsylvania Avenue, SE. and is now ready to take advantage of renewable energy – making it the first bank in the District of Columbia to be powered by solar energy.

The solar panels, by Solar Energy World in Elkridge, Maryland, will provide some 5-8 percent 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 DC’s Department of Energy and Environment is also pleased with the installation of the solar panels on the NCB roof, especially as the District is actively promoting Sustainability Guidelines for Historic Districts. (You can find a draft of these guidelines at https://planning.dc.gov/release/draft-sustainability-guide-released-existing-and-historic-properties). Wells notes, “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. Located within Historic Capitol Hill, this solar installation is also 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.”

The National Capital Bank of Washington was founded in 1889 and is Washington’s Oldest Bank. NCB is headquartered on Capitol Hill with offices in the Friendship Heights community in Northwest D.C., and most recently the Courthouse community in Arlington, Virginia. NCB also operates residential mortgage and commercial lending offices and a wealth management services division. NCB product and service offerings include personal and business deposit accounts, robust online and mobile banking, sophisticated treasury management solutions, remote deposit capture and merchant processing – all delivered with top-rated personal service. NCB is well-positioned to serve all the banking needs of those in our community. For more information about NCB, visit www.nationalcapitalbank.com. The Bank trades under the symbol NACB.

SOURCE The National Capital Bank of Washington

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