SolarBank’s 7.2 MW Community Solar Project to Power Over 850 Homes in New York
TORONTO, Oct. 29, 2024 /PRNewswire/ — SolarBank Corporation (NASDAQ: SUUN), a prominent developer of renewable energy projects, is thrilled to announce its plans for a groundbreaking 7.2 MW DC ground-mount solar power project in Wyoming County, New York. This project, aptly named the North Main project, is poised to become a significant contributor to the state’s clean energy objectives, powering over 850 homes with clean and affordable energy.
With a secured site lease and an interconnection study underway, the North Main project signifies another crucial step forward in SolarBank’s expanding development pipeline, which now exceeds one gigawatt. This project embodies the company’s steadfast commitment to advancing community solar initiatives.
The clean energy generated by community solar projects is seamlessly integrated into the local electricity grid. Depending on the scale and number of panels in a community solar project, renters and homeowners can reap the benefits of reduced electricity bills through earned credits. By subscribing to a project, community members gain access to the advantages of renewable energy without the need for installing panels on their own properties.
SolarBank’s strategic focus on community solar aligns perfectly with its overarching goal of powering thousands of homes with clean and affordable energy. Pending a successful interconnection study, the company will diligently pursue the completion of the permitting process and secure the necessary financing for the construction of the North Main project.
The project is anticipated to be eligible for incentives under the New York State Energy Research and Development Authority (NYSERDA) NY-Sun Program. This program is designed to incentivize the development of solar energy projects, fostering a more sustainable energy future for the state.
About SolarBank Corporation
SolarBank Corporation is a leading independent developer and owner of renewable and clean energy projects, specializing in distributed and community solar projects across Canada and the United States. The company develops a diverse range of projects, including solar, Battery Energy Storage System (BESS), and EV Charging projects, selling electricity to utilities, commercial, industrial, municipal, and residential customers.
SolarBank’s commitment to maximizing returns is evident in its diverse project portfolio across multiple leading North American markets, encompassing projects with utilities, host off-takers, community solar, and virtual net metering initiatives. The company boasts a substantial development pipeline exceeding one gigawatt and has successfully developed renewable and clean energy projects with a combined capacity of over 100 megawatts built.
To learn more about SolarBank’s commitment to a sustainable energy future, visit their website at www.solarbankcorp.com.
