Senator Ed Markey Announces New Green Business Loan Programs at Resonant Solar Site

Written By Isaac Baker

On July 22, 2024, our team had the privilege of welcoming Senator Ed Markey and Administrator Isabel Casillas Guzman of the US Small Business Administration (SBA) to one of our affordable housing solar projects in Dorchester.

The Indigo Block solar array

Indigo Block is a new construction development in Upham’s Corner, owned by Dorchester Bay Economic Development Corporation. The solar system, installed in August 2022, is offsetting 33% of the building’s common area usage which includes elevators, hallway lights, and community rooms. The housing development is expected to generate $420,000 in net financial benefit over the lifetime of the system.

The Senator and Administrator were announcing a new Green Lender Initiative to enroll additional climate lenders in SBA’s loan programs. The initiative will employ SBA loan guarantees to attract additional private capital in support of clean energy investments spurred by the Inflation Reduction Act.

Resonant Energy co-founder Isaac Baker spoke to Senator Markey's leadership in passing the Inflation Reduction Act that has enabled our rapid expansion of solar for affordable housing and nonprofits across MA and our enthusiasm for the forthcoming Greenhouse Gas Reduction Fund and SBA funding that will continue to increase uptake.

From left: Kimberly Lyle, CEO of Dorchester Bay Economic Development Corporation, City Councilor Brian Worrell (District 4), Isaac Baker, co-CEO of Resonant Energy, Rep. Christopher Worrell (Suffolk), and Senator Ed Markey

Isaac and Senator Markey joined by Resonant staff members Colby Lawless (Account Manager) and Joanna da-Cuhna-Semedo (Sr. Environmental Justice Program Manager)

Isaac Baker
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