SolarBank Corporation (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: GY2) has reached a pivotal moment with its 7.2 MW Hoadley Hill Road ground-mount solar project in upstate New York, following the successful completion of the Coordinated Electric System Interconnection Review (CESIR). This regulatory approval marks a critical step forward in the project's development, which is designed to power approximately 850 homes through New York's grid, leveraging the state's VDER compensation mechanism and potentially qualifying for up to US$0.395/W DC in NYSERDA NY-Sun incentives.
The project stands out as a community solar initiative, enabling residents and businesses to benefit from solar energy without the need for on-site installations, through bill credits. With a track record of over 100 MW of developed projects and a pipeline exceeding 1 GW, SolarBank is now focusing on accelerating permitting and financing processes to commence construction. This development is in line with New York's ambitious target of installing 6 GW of solar energy by 2025, showcasing the state's commitment to renewable energy and sustainability.
For more details on the project and SolarBank's role in advancing renewable energy, visit https://ibn.fm/ZvEKF.
