Curated News
By: NewsRamp Editorial Staff
August 26, 2025

PowerBank's NY Solar Project Advances, Boosting Clean Energy Access

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TLDR

  • PowerBank's New York solar project offers investors exposure to renewable energy growth with a projected first-year rate of $0.0971/kWh under state incentives.
  • The 5.7 MW solar project completed interconnection review and advances to permitting, utilizing New York's Value of Distributed Energy Resources compensation mechanism.
  • This community solar initiative provides clean energy to the grid while enabling renters and homeowners to access bill credits and savings.
  • PowerBank develops solar projects exceeding 1 GW capacity, supporting New York's goal of 6 GW solar by 2025 through distributed energy solutions.

Impact - Why it Matters

This development matters because it represents tangible progress toward renewable energy adoption at the community level. As climate change concerns intensify and energy costs remain volatile, community solar projects like PowerBank's initiative provide accessible clean energy options for renters and homeowners who cannot install their own solar systems. The project's advancement supports New York's ambitious climate goals while creating local clean energy jobs and offering consumers potential savings through bill credits. For investors, it demonstrates PowerBank's execution capability in the growing renewable energy sector, which is increasingly important as governments worldwide push for decarbonization and energy independence.

Summary

PowerBank Corporation (NASDAQ: SUUN), a leading North American energy infrastructure developer, has announced a significant milestone for its 5.7 MW North Main St ground-mount solar project in upstate New York. The project has successfully completed its Coordinated Electric System Interconnection Review and is now advancing to site permitting phase. This community solar initiative is expected to qualify for New York's Value of Distributed Energy Resources compensation mechanism with an estimated first-year average rate of US$0.0971/kWh, making clean energy more accessible and affordable for local residents and businesses.

The project represents PowerBank's continued expansion in renewable energy development, with the company having over 100 MW of completed projects and a development pipeline exceeding 1 GW. This initiative supports New York's Climate Leadership and Community Protection Act goal of achieving 6 GW of solar capacity by 2025. Once permitted and financed, construction will begin on this community solar project that will deliver clean energy to the local grid while enabling renters, businesses, and homeowners to subscribe for bill credits and savings through virtual net metering arrangements.

PowerBank Corporation operates as an independent renewable and clean energy project developer focusing on distributed and community solar projects across Canada and the USA. The company develops solar and Battery Energy Storage System (BESS) projects that sell electricity to utilities, commercial, industrial, municipal, and residential off-takers. For more information about PowerBank's renewable energy initiatives, visit their website at www.powerbankcorp.com or check the latest updates through the InvestorBrandNetwork platform that facilitates communication between companies and investors.

Source Statement

This curated news summary relied on content disributed by InvestorBrandNetwork (IBN). Read the original source here, PowerBank's NY Solar Project Advances, Boosting Clean Energy Access

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