SolarBank Corporation is pursuing a 7.2 MW DC ground-mount solar power project, the Jordan Rd, Gainesville project, in upstate New York. This project is a significant step forward in the company’s growing development pipeline, which now exceeds one gigawatt, and demonstrates their continued commitment to community solar.
The project has already secured a site lease and is undergoing an interconnection study to assess its feasibility. If the study yields favorable results, SolarBank will obtain necessary permits and secure financing to move the project into the construction phase. The project is expected to qualify for incentives under the New York State Energy Research and Development Authority’s (NYSERDA) NY-Sun Program, aiming to make solar energy more accessible and affordable across the state.
Once completed, the project will operate as a community solar project, allowing multiple households and businesses to benefit from solar energy without installing panels on their own properties. The clean energy generated will be fed into the local power grid, and participating subscribers will receive credits on their electricity bills, making solar savings accessible to a broader audience.
SolarBank has partnered with Solar Simplified to handle subscriber-related activities, including acquisition, enrollment, and ongoing management, allowing SolarBank to focus on developing new projects and expanding their renewable energy portfolio. Solar Simplified’s expertise complements SolarBank’s vision, fostering sustainable growth and delivering greater value to both the business and the communities it serves.
However, the project faces several risks, including obtaining interconnection approval, securing community solar contracts, accessing third-party financing, addressing construction challenges, and the potential impact of changes to government policies or solar incentives on the project’s financial outlook.