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, creating financial viability while supporting the state's renewable energy transition. Community solar models like Day Hollow address a critical gap in renewable energy accessibility by serving populations typically excluded from rooftop solar benefits, including renters, multi-family housing residents, and properties with unsuitable roofs.
PowerBank's progress on this project highlights how regulatory frameworks like New York's VDER program can accelerate renewable energy deployment by creating favorable economic conditions for developers. The company's focus on distributed generation projects contributes to grid resilience by decentralizing energy production and reducing transmission losses. As states across North America implement similar renewable energy targets, PowerBank's strategy of targeting markets with supportive policies positions the company to capitalize on growing demand for clean energy solutions. The Day Hollow project serves as a model for how community solar can simultaneously advance environmental goals, expand energy equity, and create sustainable business opportunities in the renewable energy sector.
