SolarBank Corporation (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: GY2) has reached a pivotal moment in the development of its 7.2 MW Hoadley Hill Road ground-mount solar project in upstate New York, following the successful clearance of the Coordinated Electric System Interconnection Review (CESIR). This regulatory approval marks a critical step forward for the project, 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.
As a community solar project, Hoadley Hill Road offers a unique opportunity for residents and businesses to benefit from solar energy without the need for on-site installations, providing bill credits instead. This approach not only democratizes access to renewable energy but also aligns with New York’s ambitious goal of installing 6 GW of solar capacity by 2025. SolarBank’s progress on this project, alongside its portfolio of over 100 MW built and a pipeline exceeding 1 GW, underscores the company’s role in accelerating the transition to renewable energy in North America.
The advancement of the Hoadley Hill Road project is a testament to SolarBank’s expertise in navigating the regulatory landscape and its commitment to developing sustainable energy solutions. With permitting and financing efforts now in full swing, the project is poised to move into the construction phase, further solidifying New York’s position as a leader in renewable energy adoption. For more information on SolarBank Corporation and its projects, visit https://SolarBankCorp.com.
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