PowerBank Corporation has executed a lease agreement for its 6.9 MW DC ground-mount solar project located in New York's Capital District. The project is expected to qualify for incentives under NYSERDA's NY-Sun Program and will deliver clean, cost-saving power to local residents through a community solar model. This initiative directly supports New York's ambitious 6 GW solar capacity goal established under the state's Climate Leadership and Community Protection Act, representing a tangible step toward meeting statewide renewable energy targets.
The company is currently advancing interconnection and permitting steps while securing project financing for the development. PowerBank brings substantial experience to this initiative, having completed over 100 MW of solar projects and maintaining a 1 GW development pipeline. This project matters because community solar projects like NY-Crawford Rd enable residents who cannot install solar panels on their own properties to benefit from renewable energy through subscription models. This approach expands access to clean energy while providing financial savings to participants who receive credits on their electricity bills, addressing both environmental and economic concerns for local communities.
PowerBank's development strategy leverages its diverse portfolio across multiple North American markets, including projects with utilities, host off-takers, community solar, and virtual net metering arrangements. The company's track record positions it to effectively navigate the complex regulatory and development landscape of New York's renewable energy market. The implications of this announcement extend beyond immediate project development, as successful implementation could serve as a model for similar community solar initiatives throughout the state and region.
This project represents a significant investment in New York's renewable energy infrastructure at a time when states are accelerating their transition away from fossil fuels. The community solar model particularly matters because it democratizes access to clean energy, allowing renters, homeowners with unsuitable roofs, and low-to-moderate income households to participate in the renewable energy transition. For additional information about the company's operations and project portfolio, visit www.powerbankcorp.com. Detailed information about forward-looking statements and risk factors can be found at https://ibn.fm/OJgw0 and comprehensive terms of use are available at http://IBN.fm/Disclaimer.
