PowerBank Corporation Advances New York Community Solar Project, Supporting State Climate Goals

PowerBank Corporation has secured site control for its 2.8 MW Day Hollow ground-mount solar project in upstate New York, enabling the progression to the interconnection study phase and moving the community solar initiative closer to operation. This milestone represents a significant step in project development that carries important implications for renewable energy accessibility and state climate objectives. 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, creating financial incentives for broader participation in clean energy adoption.

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, effectively democratizing solar energy access for populations traditionally excluded from renewable energy benefits. This development contributes directly to New York's Climate Leadership and Community Protection Act target of achieving 6 GW of solar capacity by 2025, demonstrating how private sector projects can align with and advance public policy goals. 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.

The advancement of the Day Hollow project illustrates the growing importance of community solar models in expanding renewable energy adoption beyond traditional rooftop installations. By providing renewable energy access to subscribers who cannot install solar panels on their properties, this approach addresses a significant barrier to clean energy equity while supporting grid stability through distributed generation. PowerBank Corporation, as an independent renewable and clean energy project developer and owner with a diverse portfolio including solar and Battery Energy Storage System projects, 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.

This project's progression demonstrates how community solar initiatives can simultaneously advance environmental goals, expand energy accessibility, and create economic opportunities within supportive regulatory environments. The interconnection study phase now enabled by site control represents a critical technical step that will determine how the project integrates with the existing grid infrastructure, with implications for reliability and scalability of similar future projects. As New York continues to implement its ambitious climate legislation, projects like Day Hollow provide tangible examples of how policy objectives translate into operational renewable energy assets that benefit diverse stakeholders across the energy ecosystem.