PowerBank announces $1.1 million NYSERDA incentive for 7.1 MW solar project in New York

PowerBank says its 7.1 MW Jordan Rd 2 community solar project in Skaneateles Falls, New York, has been approved for up to $1,119,618 in NYSERDA NY-Sun incentives.

In an April 7 announcement, the company said the project may also qualify for up to another $1,576,590 through the Inclusive Community Solar Adder. PowerBank said the project has already received brownfield environmental approvals from the New York State Department of Environmental Conservation.

The company described the project as a community solar installation and said the incentive adds to its pipeline of New York renewable-energy projects. Independent coverage from pv magazine USA and the company’s SEC filing echoed the same figures.

The same release also disclosed a separate Nasdaq notice saying PowerBank had fallen below the exchange’s $1.00 minimum bid-price requirement for 30 consecutive business days. The company said it has a 180-day period to regain compliance.

The announcement is notable both for the state incentive and for the project’s regulatory progress, which together move the solar build one step closer to execution.