COLLEGE PARK, Md. — The Maryland Clean Energy Center (MCEC) is pleased to announce the deployment of approximately $2.7 million in revolving capital through the Maryland Strategic Revolving Fund (SRF). This milestone, achieved across three funding draws, will advance rooftop solar and battery storage installations at 25 affordable housing properties throughout the state. The initiative will ensure long-term energy savings and resilience for 2,422 households.
Established as a partnership between MCEC and the Maryland Energy Administration (MEA), the SRF was created to bridge a critical financing gap. Solar and storage projects at affordable multifamily housing often stall because of early-stage costs—such as engineering, procurement, and interconnection—arise long before permanent financing is secured. To solve this, the SRF provides a $4.5 million revolving line of credit to Enterprise Community Development, allowing these high-impact projects to move forward without delay.
The SRF capital, utilized by Enterprise Community Development, filled a gap in the capital stack to meet the “safe harbor” requirement for 20 projects ahead of the December 31, 2025, federal deadline. This strategic move leveraged an estimated $4.9 million in tax-credit value and unlocked essential bridge financing.
“The Maryland Energy Administration is proud to partner with the Maryland Clean Energy Center to keep investment flowing into clean energy sources like solar,” said Maryland Energy Administration Director Kelly Speakes-Backman. “We know renewables are the most available and affordable energy source in today’s market,” and that Maryland communities are more resilient and affordable because of these awards to deploy clean, local power quickly.”
The first three draws of the SRF have delivered immediate results across six Maryland jurisdictions, including Anne Arundel, Baltimore, Baltimore City, Harford, Howard, and Prince George’s counties:
- Clean Energy Capacity: Advanced approximately 2.72 MW of rooftop solar capacity
- Annual Generation: Estimated annual production of 3,267 MWh of clean energy
- Household Benefits: Supporting a portfolio that serves 2,422 affordable housing units, with a target of 20% energy savings for low-income residents
- Grid Resilience: Funding includes Battery Energy Storage Systems (BESS) and solar carports at select locations to provide backup power and increased capacity
The SRF operates on a self-sustaining model. As projects reach completion and repay the line of credit, the capital is recycled back into the fund to finance new clean energy deployments. This ensures that the original $5 million investment from the Strategic Energy Investment Fund (SEIF) will continue to multiply its impact through the program term ending in 2030.
“The success of these initial draws demonstrates the essential role of revolving capital in the clean energy transition,” said Kathy Magruder, Executive Director for the Maryland Clean Energy Center. “By providing the working capital needed to bridge the gap between design and construction, we are ensuring that the benefits of solar and storage reach the communities that need them most while securing millions in federal incentives that would otherwise be lost.”
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