SolarBank Unveils Solar Project in New York With Community Focus

SolarBank Corporation announced that it plans to develop a 6.41 megawatt DC ground mount solar power project known as the East Bloomfield project in East Bloomfield, New York.

As per the announcement, the project is expected to be eligible for incentives under the New York State Energy Research and Development Authority (NYSERDA) NY-Sun Program.

SolarBank has secured a lease for the project site, obtained interconnection approval, and received a Special Use Permit from the Town of East Bloomfield.

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The company will now focus on finalizing the permitting process and securing financing for the Project's construction.

Upon completion, the project will function as a community solar initiative. This type of project consists of a solar array connected to the local electricity grid. Once operational, the clean energy produced will be fed into the grid.

Depending on the project's size, reducing electricity costs can benefit dozens to hundreds of renters and homeowners.

Subscribers to the community solar project receive credits on their monthly electric bills based on their share of the solar energy produced, allowing them to enjoy solar benefits without needing to install panels on their properties.

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However, as per the announcement, the project's development is subject to various risks.

These encompass obtaining essential interconnection approvals and permits, securing continued financing, and addressing the challenges inherent in solar power construction.

Additionally, shifts in government incentives or policies could affect the project's financial feasibility.