PowerBank Corporation has achieved site control for its 2.8 MW Day Hollow ground-mount solar project in upstate New York, enabling the project to advance to the interconnection study phase. This development marks significant progress for the community solar initiative, bringing it closer to operational status and contributing to New York's renewable energy infrastructure. The project is projected to qualify under New York's Value of Distributed Energy Resources program with an estimated first-year average rate of US$0.0971/kWh, creating financial incentives for participants while supporting the state's clean energy transition.
As a community solar project, Day Hollow will enable renters, businesses, and homeowners to subscribe and receive bill credits without requiring on-site equipment installation, making solar energy accessible to a broader demographic that might otherwise be excluded from renewable energy benefits. This approach addresses the limitations of traditional rooftop solar by allowing multiple stakeholders to benefit from a single installation, particularly those in multi-unit dwellings or properties unsuitable for solar panel installation. The project directly supports New York's Climate Leadership and Community Protection Act target of achieving 6 GW of solar capacity by 2025, demonstrating how distributed energy resources can accelerate statewide climate goals.
The Day Hollow project represents part of PowerBank's broader strategy to develop distributed and community solar projects across North America, focusing on markets with supportive regulatory frameworks and renewable energy incentives. As an independent renewable and clean energy project developer and owner, PowerBank maintains a diverse portfolio including solar and Battery Energy Storage System projects, selling electricity to utilities, commercial, industrial, municipal, and residential off-takers. Additional information about forward-looking statements and risk factors can be found at https://ibn.fm/DrOGN.
This project advancement demonstrates the growing importance of community solar initiatives in New York's energy landscape, providing renewable energy access to subscribers who cannot install solar panels on their properties while supporting grid stability. The approach expands clean energy adoption beyond traditional rooftop solar installations, creating a more inclusive renewable energy ecosystem that benefits diverse consumer groups. By enabling broader participation in solar energy generation, community solar projects like Day Hollow help democratize access to clean energy while contributing to regional sustainability objectives and reducing dependence on fossil fuels.
