PowerBank Corporation has executed a lease agreement on a 5-megawatt (MW) AC hybrid solar-plus-storage project in upstate New York, known as the NY-Cloverdale Rd project.
PowerBank is currently initiating the preliminary screening analysis as part of the interconnection process. Once approved, the company will complete the permitting process and obtain the necessary financing for construction.
It is expected to be eligible for incentives under the New York State Energy Research and Development Authority (“NYSERDA”) NY-Sun Program and the Retail Storage Incentive Program.
Once complete, the project will likely be used as a hybrid community solar-plus-storage system. Once it’s connected and producing power, energy from the site will feed into the local grid, serving anywhere from dozens to hundreds of renters and homeowners.
PowerBank has over 100 MW of completed projects and a development pipeline exceeding 1 gigawatt (GW). This latest project advances the state’s path to 10 GW of distributed solar and 6 GW of storage by 2030; it currently leads the U.S. in community solar capacity, having met the New York State Climate Act 6 GW solar goal back in 2024.
The rising demand for electricity from data centers, along with the rapid growth of intermittent renewable energy sources, makes battery energy storage systems a growing necessity. Over the last 15 years, there has been a 90 percent drop in the cost of batteries as new factories come online, resulting in substantial growth in the sector globally.
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