PowerBank Announces New 5 MW Distributed Solar and Battery Energy Storage System Project in New York

Core Viewpoint - PowerBank Corporation has signed a lease agreement for a 5 MW AC hybrid solar plus battery energy storage project in New York, contributing to the state's renewable energy goals and benefiting from various incentives [1][2][7]. Company Overview - PowerBank Corporation is a leader in renewable and clean energy project development, focusing on distributed and community solar projects in North America, with over 100 MW of completed projects and a development pipeline exceeding 1 GW [9]. Project Details - The NY-Holland Glnwd project will utilize hybrid community solar and energy storage, allowing local residents to save on electricity costs without needing to install equipment [5]. - The project is expected to be eligible for incentives from NYSERDA and federal tax credits under the Inflation Reduction Act of 2022 and the One Big Beautiful Bill Act of 2025 [2]. Industry Context - The demand for battery storage is increasing due to the rapid growth of wind and solar power, with a 90% reduction in battery costs over the past 15 years, facilitating significant global sector growth [3]. - New York aims to achieve 6 GW of solar capacity by 2025, with PowerBank contributing to this goal as a national leader in community solar [7].