D.C. United?s forthcoming soccer field, funded in part with a green loan, offers more than a place to play Stadiums, specifically when it comes to funding and construction, can often be bad deals for cities. Many studies and reports have argued that publicly subsidizing new and expanded stadiums often isn?t a good deal for the public.
In Washington, D.C., a new project suggests there many be other, more sustainable ways to help finance new stadiums that offer additional benefits beyond a new place to play.
The District?s Major League Soccer team, D.C. United, broke ground on a new 20,000-seat stadium, Audi Field, earlier this year in the Buzzard Point neighborhood, buoyed in part by a $25 million private clean energy financing deal. The $120 million project, which also relies on a $95 million loan from Goldman Sachs, will include a 884-kilowatt solar array, a stormwater retention system, and a variety of smaller energy and water efficient technologies. This isn?t just a green version of window dressing: the solar arrays, which will be installed by local firm New Columbia Solar, will provide roughly one million kilowatt hours of solar power each year, enough to cover roughly a third of the stadium?s projected energy bill. In addition, the other green retrofits will cut energy use by a quarter and decrease carbon emissions by 820 metric tons, the same as taking 173 cars off the road. D.C. United will save an estimated $125,000 annually on utility bills.
In a statement,...