PowerBank Corporation has confirmed it has signed a lease for a 5MW AC hybrid solar and battery energy storage project in New York, known as the NY‑Holland Glnwd project.
The project is expected to qualify for support through the New York State Energy Research and Development Authority’s NY‑Sun and Retail Energy Storage Incentive Programmes. It may also benefit from federal Investment Tax Credits available under the Inflation Reduction Act of 2022 and the One Big Beautiful Bill Act of 2025.
PowerBank highlighted the wider backdrop of rapid renewable energy growth and rising electricity demand from data centres. Falling battery costs – down 90% over the past 15 years as manufacturing capacity has expanded – have strengthened the case for storage to balance supply and demand and capture excess wind and solar generation.
The company has begun preliminary screening as part of the interconnection process. Subject to approval, it intends to progress permitting and secure financing for construction.
Once operational, the scheme is expected to run as a hybrid community solar and storage project. Community solar enables locally generated electricity to feed into the grid, allowing renters and homeowners to subscribe and receive bill credits without installing equipment. This model can reduce the cost per kilowatt‑hour compared with standard utility rates.
PowerBank cites more than 100MW of completed projects and a development pipeline above 1GW as evidence of its capability. The project supports New York’s Climate Leadership and Community Protection Act target of 6GW of solar by 2025.
