PowerBank's 2.1 MW Phillips Rd Project Successfully Completes Major Interconnection Study on Path to Permitting

Executive Summary

• PowerBank Corporation announced the successful completion of a Coordinated Electric System Interconnection Review (CESIR) for its new 2.1 MW Phillips Rd solar project on a closed landfill in upstate New York, clearing a key hurdle toward permitting and construction.
• The project is expected to qualify for New York’s Value of Distributed Energy Resources (VDER) compensation mechanism at an estimated first‑year rate of US$0.0971/kWh, as well as NYSERDA’s NY‑Sun incentives and federal Investment Tax Credits under the Inflation Reduction Act and the One Big Beautiful Bill Act of 2025.
• Upon securing permits and financing, PowerBank will commence construction and operate the facility as a community solar initiative, providing bill credits and savings to renters, businesses, and homeowners in the region.

Key Details

• Project Capacity: 2.1 MW (approximately enough to power ~262 homes).
• Site Control: Secured via land lease on a closed landfill.
• Interconnection Milestone: Positive results from CESIR; project now ready for local permitting.
• Financial Incentives:
• Expected VDER compensation rate: US$0.0971/kWh (Case 15‑E‑0751).
• Anticipated eligibility for NYSERDA’s NY‑Sun program incentives.
• Eligibility for federal Investment Tax Credit under the Inflation Reduction Act of 2022 and the One Big Beautiful Bill Act of 2025.
• Business Model: Community solar – subscribers receive bill credits without on‑site equipment installation.
• Company Track Record: Over 100 MW of completed projects; development pipeline exceeding 1 GW.
• Strategic Impact: Supports New York’s goal of 10 GW of solar capacity by 2030 and builds on the state’s achievement of a 6 GW solar target in 2024.

Notable Quotes

(No direct quotes were provided in the release.)