Powerbank introduces 2.1 MW solar project in N.Y.

Executive Summary

• Powerbank Corp. has successfully completed the Coordinated Electric System Interconnection Review (CESIR) for its 2.1 MW Phillips Rd solar project located on a closed landfill in upstate New York.
• The company has secured site control via a land lease and is now proceeding to the permitting phase with local authorities.
• The project is positioned to qualify for New York's VDER compensation mechanism (estimated at 9.71 cents/kWh), NYSERDA's NY-Sun program, and federal Investment Tax Credits under the Inflation Reduction Act and the One Big Beautiful Bill Act of 2025.

Key Details

• Project Name: Phillips Rd Project
• Location: Upstate New York (closed landfill site)
• Capacity: 2.1 Megawatts (MW)
• Current Status: CESIR completed; site control secured via land lease; moving to local permitting.
• Revenue Model: Community solar initiative allowing renters, businesses, and homeowners to subscribe for bill credits.
• Financial Incentives & Compensation:
  • Qualifies for New York's Value of Distributed Energy Resources (VDER) compensation mechanism under Case 15-E-0751.
  • Estimated first-year average VDER rate: 9.71 U.S. cents per kilowatt-hour.
  • Eligible for incentives under NYSERDA's NY-Sun program.
  • Eligible for federal Investment Tax Credits under the Inflation Reduction Act of 2022 and the One Big Beautiful Bill Act of 2025.
• Company Pipeline: Powerbank has a development pipeline exceeding one gigawatt and has completed over 100 MW of projects.
• Risks: Development is subject to receipt of community solar contracts, required permits, third-party financing availability, construction risks, and potential changes in government incentives.

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