SolarBank Corp. Advances 7.2 MW Hoadley Hill Solar Project in New York
SolarBank Corporation's Hoadley Hill solar project clears a major regulatory hurdle, paving the way for a community solar initiative that will power approximately 850 homes in upstate New York.
SolarBank Corporation (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: GY2) has successfully navigated the Coordinated Electric System Interconnection Review (CESIR) for its 7.2-megawatt Hoadley Hill Road solar project in upstate New York, a significant step towards grid interconnection. This ground-mount solar array is designed to generate enough electricity to power the equivalent of 850 homes, operating under a community solar model that allows local residents to subscribe and receive credits on their utility bills.
The project benefits from New York's Value of Distributed Energy Resources (VDER) compensation system, with a projected first-year compensation rate of US$0.0971 per kilowatt-hour. This regulatory achievement not only underscores SolarBank's commitment to renewable energy development but also highlights the growing importance of community solar initiatives in meeting regional energy needs and sustainability goals. For more details on the project's progress, visit https://ibn.fm/9Oe8o.