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. By enabling participation without property modifications, community solar models like Day Hollow address key barriers to renewable energy adoption in urban and rental markets. The project's progression through interconnection studies represents a critical phase in bringing additional clean energy capacity online, contributing to regional energy diversification and resilience.
New York's supportive policy environment, including the VDER program, creates favorable conditions for community solar development by establishing predictable compensation mechanisms for distributed energy resources. PowerBank's focus on markets with such frameworks allows for scalable project development while mitigating regulatory uncertainty. The company's portfolio approach across multiple technologies and markets provides operational flexibility as renewable energy markets evolve. As community solar expands, projects like Day Hollow demonstrate how distributed generation can complement utility-scale renewable development while addressing accessibility challenges that have historically limited solar adoption to property owners with suitable rooftops.
