PowerBank Corporation has secured site control for its 2.8 MW Day Hollow ground-mount solar project in upstate New York, marking a significant step toward project development. This milestone enables the progression to the interconnection study phase, moving the community solar initiative closer to operation. The project is expected to qualify under New York's Value of Distributed Energy Resources program at an estimated first-year average rate of US$0.0971/kWh. As a community solar initiative, Day Hollow will allow renters, businesses, and homeowners to subscribe and receive bill credits without requiring on-site equipment installation, making solar energy accessible to a broader demographic.
This development contributes directly to New York's Climate Leadership and Community Protection Act target of achieving 6 GW of solar capacity by 2025. The project represents part of PowerBank's strategy to develop distributed and community solar projects across North America, focusing on markets with supportive regulatory frameworks and renewable energy incentives. PowerBank Corporation is an independent renewable and clean energy project developer and owner with a diverse portfolio including solar and Battery Energy Storage System projects. The company sells electricity to utilities, commercial, industrial, municipal, and residential off-takers, maximizing returns through projects across multiple North American markets. Additional information about forward-looking statements and risk factors can be found at https://ibn.fm/DrOGN.
The Day Hollow project advancement demonstrates the ongoing growth of community solar initiatives in New York, providing renewable energy access to subscribers who cannot install solar panels on their properties. This approach supports grid stability while expanding clean energy adoption beyond traditional rooftop solar installations. The project's qualification under the VDER program ensures predictable compensation for the energy generated, making such developments financially viable while supporting the state's renewable energy transition. By enabling participation from renters and those without suitable rooftops, community solar models like Day Hollow address a critical barrier to solar adoption, potentially accelerating renewable energy deployment across diverse communities.
PowerBank's focus on markets with supportive regulatory frameworks highlights how policy mechanisms like New York's VDER program drive private investment in renewable infrastructure. The company's portfolio approach, spanning multiple technologies and markets, reflects the evolving energy landscape where distributed generation plays an increasingly important role in grid resilience and decarbonization efforts. As states like New York implement ambitious climate targets, projects like Day Hollow demonstrate how community solar can simultaneously advance environmental goals, expand energy equity, and create sustainable business models for renewable energy developers.
