PowerBank Corporation Secures Site Control for 2.8 MW Solar Project in New York
PowerBank Corporation advances its 2.8 MW Day Hollow solar project in upstate New York, qualifying for state incentives and contributing to renewable energy goals while offering community solar subscriptions.
PowerBank Corporation (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: 103) has secured site control for its 2.8 MW Day Hollow ground-mount solar project in upstate New York, marking a significant step toward development. This milestone enables the project to progress to the interconnection study phase, positioning it to contribute to New York's renewable energy targets under the state's Climate Leadership and Community Protection Act, which aims for 6 GW of solar capacity by 2025.
The project is expected to qualify under New York’s Value of Distributed Energy Resources (VDER) program, with an estimated first-year average rate of US$0.0971/kWh. Designed as a community solar initiative, Day Hollow will allow renters, businesses, and homeowners to subscribe and receive bill credits without requiring on-site equipment, making renewable energy accessible to a broader demographic. This approach supports the state's efforts to democratize clean energy and reduce carbon emissions.
PowerBank Corporation focuses on distributed and community solar projects across North America, developing solar and Battery Energy Storage System (BESS) projects that sell electricity to utilities, commercial, industrial, municipal, and residential off-takers. The company maximizes returns through a diverse portfolio, including projects with utilities, host off-takers, community solar, and virtual net metering initiatives. For more details on the company's developments, visit https://www.powerbankcorp.com.
The advancement of the Day Hollow project underscores the growing importance of community solar in expanding renewable energy infrastructure. By enabling subscription-based access, such projects help overcome barriers like upfront costs and space limitations, aligning with broader trends toward inclusive and sustainable energy solutions. This development also highlights PowerBank's role in the renewable energy sector, leveraging its potential development pipeline of over one gigawatt and experience with projects totaling over 100 megawatts built.
For additional information and updates, refer to the company's newsroom at https://ibn.fm/SUUN. This progress not only supports environmental goals but also offers economic benefits through job creation and energy savings, reinforcing the strategic value of renewable investments in regional development.