SolarBank announced it has executed a lease agreement on a 15-acre site in Nassau, New York, where the company will develop a 3 MW DC ground-mounted solar power project. Contact online >>
SolarBank announced it has executed a lease agreement on a 15-acre site in Nassau, New York, where the company will develop a 3 MW DC ground-mounted solar power project.
SolarBank has submitted its initial interconnection request for the project and is awaiting the results of that process. Following interconnection approval, the company will work to complete the permitting process and secure financing for project construction.
The project is also expected to be eligible for incentives under the New York State Energy Research and Development Authority (NYSERDA) NY-Sun Program.
Once completed, the project will operate as a community solar project - a group of solar panels with access to the local electricity grid. Once the panels are on and generating electricity, clean energy from the site will feed into the local power grid.
Depending on the size and number of panels installed at the project, hundreds of renters and homeowners can save money from the project''s generated electricity. By subscribing to the project, homeowners earn credits on their monthly electricity bill, gaining access to the benefits of solar without installing panels on their homes.
Rod Walton is senior editor for EnergyTech . He has spent 14 years covering the energy industry as a newspaper and trade journalist.
Walton formerly was energy writer and business editor at the Tulsa World. Later, he spent six years covering the electricity power sector for Pennwell and Clarion Events. He joined Endeavor and EnergyTech in November 2021.
He can be reached at [email protected].
EnergyTech is focused on the mission critical and large-scale energy users and their sustainability and resiliency goals. These include the commercial and industrial sectors, as well as the military, universities, data centers and microgrids.
Many large-scale energy users such as Fortune 500 companies, and mission-critical users such as military bases, universities, healthcare facilities, public safety and data centers, shifting their energy priorities to reach net-zero carbon goals within the coming decades. These include plans for renewable energy power purchase agreements, but also on-site resiliency projects such as microgrids, combined heat and power, rooftop solar, energy storage, digitalization and building efficiency upgrades.
Toronto, Ontario, January 22, 2024 — SolarBank Corporation (CSE: SUNN; OTC: SUUNF; FSE: GY2) ("SolarBank" or the “Company”) announces that it has executed a lease agreement on a 15 acre site in Nassau, New York. SolarBank intends to develop a 3 MW DC ground-mount solar power project on the site (the "Project"). The Project is expected to be eligible for incentives under the New York State Energy Research and Development Authority (“NYSERDA”) NY-Sun Program.
The Company has submitted its initial interconnection request for the Project and is awaiting the results of that process. Following receipt of interconnection approval, the Company will work to complete the permitting process and secure the necessary financing for the construction of the Project.
Once completed, the Project will be operated as a community solar project. Community solar is a group of solar panels with access to the local electricity grid. Once the panels are turned on and generating electricity, clean energy from the site feeds into the local power grid. Depending on the size and number of panels the project has, dozens or even hundreds of renters and homeowners can save money from the electricity that is generated by the project. By subscribing to a project, a homeowner earns credits on their electric bill every month from their portion of the solar that''s generated by the project, accessing the benefits of solar without installing panels on their home.
There are several risks associated with the development of the Project. The development of any project is subject to receipt of interconnection approval, required permits, the continued availability of third-party financing arrangements for the Company and the risks associated with the construction of a solar power project. In addition, governments may revise, reduce or eliminate incentives and policy support schemes for solar power, which could result in future projects no longer being economic. Please refer to "Forward-Looking Statements" for additional discussion of the assumptions and risk factors associated with the statements in this press release.
About SolarBank Corporation
SolarBank Corporationis an independent renewable and clean energy project developer and owner focusing on distributed and community solar projects in Canada and the USA. The Company develops solar projects that sell electricity to utilities, commercial, industrial, municipal and residential off-takers. The Company maximizes returns via a diverse portfolio of projects across multiple leading solar markets including projects with utilities, host off-takers, community solar, and virtual net metering projects. The Company has a potential development pipeline of over one gigawatt and has developed renewable and clean energy projects with a combined capacity of over 70 megawatts built. To learn more about SolarBank, please visit
At the Future Energy Economy Summit held in Syracuse, Governor Kathy Hochul today called for advanced clean energy technologies to play a key role in supporting renewable energy and economic development. The Summit outlined next steps needed to plan for growing energy demand that can support the State’s commitment to accelerate progress toward a zero-emission electricity system.
“New York is building a clean energy economy that fosters growth, ingenuity and taps into technologies that will reduce our carbon footprint,” Governor Hochul said. “From creating the most successful offshore wind industry in the country to our investments in a sustainable electric grid, we are committed to being a national leader in protecting our climate – and we won’t stop until we’ve created the best possible future for our children.”
Three takeaways from the Summit include the need to prioritize continued focus on building New York’s renewable energy grid to realize the health, environmental and economic benefits resources like wind and solar provide; to bring new attention to technology research, market development and commercial demonstration of new and existing dispatchable emissions-free resources to support a reliable, resilient and affordable renewable grid for the State’s expanding economy; and to identify, leverage and maximize the potential federal funding opportunities, offered by the Biden-Harris administration, and policy development proposals to further support economy growth strategies.
NYSERDA Board Chair Richard Kauffman said, “I am thankful to the industry leaders and experts who shared their insights at the Summit in support of the State’s commitment to a clean energy transition that will bring the growth of jobs, business and industry to the State. As we consider this input and move forward guided by these key steps, we remain committed to be an example for other states in accelerating advancement of the resources needed to achieve a zero-emission grid.”
NYSERDA President and CEO Doreen M. Harris said, “The timely convening of this group of experts with diverse backgrounds and experience provided an opportunity to discuss and explore promising next generation technologies that can support New York’s ever-growing clean energy economy. These next steps align with investments and priorities we are seeing at the federal level which makes these next steps and strategies critical to successfully leveraging future funding opportunities to continue our progress.”
This work builds on the US Department of Energy “Liftoff” reports, which detail the needs and paths necessary to bring the suite of emission-free energy technologies to commercialization. The Summit also tracks with the recent White House Summit on Domestic Nuclear Deployment held in May that highlighted progress being made across the public and private sectors on how to maintain the use of existing nuclear facilities, deploy new nuclear technologies, streamline the process for responsibly siting new reactors, and build robust supply chains and workforce.
About Nassau solar energy research and development
As the photovoltaic (PV) industry continues to evolve, advancements in Nassau solar energy research and development have become critical to optimizing the utilization of renewable energy sources. From innovative battery technologies to intelligent energy management systems, these solutions are transforming the way we store and distribute solar-generated electricity.
When you're looking for the latest and most efficient Nassau solar energy research and development for your PV project, our website offers a comprehensive selection of cutting-edge products designed to meet your specific requirements. Whether you're a renewable energy developer, utility company, or commercial enterprise looking to reduce your carbon footprint, we have the solutions to help you harness the full potential of solar energy.
By interacting with our online customer service, you'll gain a deep understanding of the various Nassau solar energy research and development featured in our extensive catalog, such as high-efficiency storage batteries and intelligent energy management systems, and how they work together to provide a stable and reliable power supply for your PV projects.
