Powerbank gets approvals for 3.15 MW New York project

Executive Summary

• Powerbank Corp. has secured two major permitting approvals for its 3.15 MW DC hybrid solar plus energy storage project in Buffalo, N.Y., specifically a waterfront consistency review and a zoning map amendment.
• These approvals allow the project to proceed to the Zoning Board of Appeals for an Area Variance, a critical step before final permits and financing can be secured to commence construction.
• The project is designed as a community solar initiative with 1.2 MWh of energy storage, expected to be eligible for NYSERDA incentives and federal investment tax credits.

Key Details

• Project Location: Buffalo, N.Y. (South Park area).
• Capacity: 3.15 megawatts (MW) DC hybrid solar plus energy storage.
• Storage Component: 1.2 megawatt-hours (MWh) of energy storage.
• Permitting Status: Passed waterfront consistency review and zoning map amendment; now pending Area Variance from the Zoning Board of Appeals.
• Business Model: Community solar project allowing renters, businesses, and homeowners to subscribe and receive bill credits without on-site equipment installation.
• Financial Incentives: Expected eligibility for NYSERDA's NY-Sun and Retail Energy Storage Incentive programs, as well as federal investment tax credits under 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.
• Regulatory Context: Project supports New York's goal of 10 GW of distributed solar and 6 GW of energy storage by 2030.
• Risks: Development is subject to receipt of community solar contracts, interconnection approval, required permits, third-party financing availability, and potential changes to government incentives.

Notable Quotes

• "The project advances New York's path to 10 GW of distributed solar and six GW of energy storage by 2030."
• "Powerbank's proven expertise, with over 100 megawatts of completed projects and a development pipeline exceeding one gigawatt, underpins the project's execution."