PowerBank Corporation has announced a lease agreement for a 5MW AC solar storage project in upstate New York.
Known as the NY-Cloverdale Rd project, the hybrid solar and battery energy storage scheme is expected to qualify for incentives under the New York State Energy Research and Development Authority (NYSERDA) NY-Sun Programme and the Retail Storage Incentive Programme.
The rise of wind and solar generation, coupled with growing demand from data centres, is driving the need for batteries. These systems store surplus renewable energy for use when conditions are less favourable, balancing supply and demand. Costs have fallen sharply, with a 90% reduction over the past 15 years as new manufacturing capacity has come online, fuelling global growth in the sector.
PowerBank has begun preliminary screening as part of the interconnection process. Subject to approval, the company will move forward with permitting and financing. Once operational, the solar storage project is expected to function as a hybrid community solar plus storage facility. Community solar allows local households and renters to benefit from renewable energy without installing equipment. By subscribing, customers can earn credits on their electricity bills, reducing costs compared with standard utility rates.
The project contributes to New York’s target of 10GW distributed solar and 6GW storage by 2030.
