PowerBank Corporation has executed a lease agreement for its 6.9 MW DC NY-Crawford Rd ground-mount solar project located in New York's Capital District. The project is expected to qualify for incentives under NYSERDA's NY-Sun Program and will deliver clean, cost-saving power to local residents through a community solar model. This development directly supports New York's ambitious 6 GW solar capacity goal established under the state's Climate Leadership and Community Protection Act, representing a significant step toward meeting renewable energy targets while addressing climate concerns.
The company is currently advancing interconnection and permitting steps while securing project financing for the development. PowerBank brings substantial experience to this initiative, having completed over 100 MW of solar projects and maintaining a 1 GW development pipeline. This expertise positions the company to effectively navigate the complex regulatory and development landscape of New York's renewable energy market, where community solar projects like NY-Crawford Rd enable residents who cannot install solar panels on their own properties to benefit from renewable energy through subscription models.
Community solar represents an innovative approach to expanding access to clean energy while providing financial savings to participants who receive credits on their electricity bills. This model addresses barriers to solar adoption for renters, homeowners with unsuitable roofs, and those who cannot afford upfront installation costs. By making renewable energy accessible to a broader population segment, projects like NY-Crawford Rd contribute to more equitable energy distribution while supporting grid stability and reducing carbon emissions.
PowerBank's development strategy leverages its diverse portfolio across multiple North American markets, including projects with utilities, host off-takers, community solar, and virtual net metering arrangements. The company's track record in completing solar installations provides confidence in its ability to deliver the NY-Crawford Rd project successfully. For additional information about the company's operations and project portfolio, visit www.powerbankcorp.com. Detailed information about forward-looking statements and risk factors can be found at https://ibn.fm/OJgw0 and comprehensive terms of use are available at http://IBN.fm/Disclaimer.
The project's location in New York's Capital District places it within a region actively pursuing renewable energy development to meet state mandates. As New York works toward its 6 GW solar goal, projects like NY-Crawford Rd demonstrate how private sector investment combined with state incentives can accelerate clean energy deployment. The community solar model particularly matters because it democratizes access to renewable energy benefits, allowing more residents to participate in the state's energy transition regardless of their housing situation or financial resources.
