PowerBank Corporation's Day Hollow Solar Project Advances, Supporting New York's Renewable Energy Goals
TL;DR
PowerBank's Day Hollow solar project secures site control, offering investors exposure to New York's VDER program with an estimated first-year rate of US$0.0971/kWh.
PowerBank's 2.8 MW Day Hollow solar project progresses to interconnection study phase after securing site control, qualifying under New York's VDER program for community solar.
PowerBank's community solar project enables renters and homeowners to receive bill credits without on-site equipment, supporting New York's climate goals and renewable energy access.
PowerBank develops a 2.8 MW ground-mount solar project in upstate New York, advancing clean energy infrastructure through community solar subscriptions.
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PowerBank Corporation has announced that its 2.8 MW Day Hollow ground-mount solar project in upstate New York has secured site control, enabling the project to progress to the interconnection study phase. This development marks a significant step forward for renewable energy infrastructure in the region and supports New York's ambitious climate goals. The project's advancement demonstrates tangible progress in the state's transition to cleaner energy sources, which is critical for meeting legislative mandates and reducing carbon emissions.
The Day Hollow 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. Designed as a community solar initiative, the project will allow renters, businesses, and homeowners to subscribe and receive bill credits without requiring on-site equipment installation. This approach makes solar energy accessible to a broader demographic, including those who cannot install panels on their own properties. The community solar model addresses equity concerns in renewable energy adoption by ensuring that economic benefits are not limited to property owners who can afford upfront installation costs.
The project directly contributes to New York's Climate Leadership and Community Protection Act target of achieving 6 GW of solar capacity by 2025. By developing distributed energy resources like the Day Hollow project, PowerBank Corporation is helping the state move toward its renewable energy objectives while providing economic benefits to local communities through reduced electricity costs and job creation during construction and maintenance phases. This distributed approach to energy generation enhances grid resilience by decentralizing power production and reducing transmission losses compared to centralized power plants.
PowerBank Corporation, an independent renewable and clean energy project developer and owner, focuses on distributed and community solar projects across North America. The company develops solar and Battery Energy Storage System projects that sell electricity to utilities, commercial, industrial, municipal, and residential off-takers. Additional information about the company's operations and development pipeline can be found at https://www.powerbankcorp.com.
The advancement of the Day Hollow project represents the ongoing expansion of community solar initiatives in New York, which have become increasingly important as the state works to decarbonize its energy grid and provide equitable access to renewable energy benefits. The project's progression through the development pipeline demonstrates the continued growth of the distributed energy sector and its critical role in meeting regional climate targets. As more projects like Day Hollow move forward, they create a scalable model for other states seeking to balance renewable energy expansion with accessibility concerns, potentially influencing national energy policy discussions around equitable clean energy transition.
Curated from InvestorBrandNetwork (IBN)
