PowerBank Corporation announced that its 7 MW Jordan Rd 1 community solar project in Skaneateles Falls, New York, has been approved for up to $1,965,579 in NYSERDA NY‑Sun Program incentives and an additional $1,576,520 in NY‑Sun inclusive community solar add‑ons, bringing the total incentive potential to $3,541,099. The approvals were granted after the project received municipal and brownfield environmental approvals, clearing a key regulatory hurdle for the next phase of construction.
The incentive package is expected to reduce the project’s capital cost by roughly 10‑15 %, improving the return on investment for the 875 homes the project will serve. By securing these incentives, PowerBank strengthens the financial case for the Jordan Rd 1 project and demonstrates its ability to navigate New York’s complex permitting and incentive landscape, a core competitive advantage highlighted in its pivot to a digital‑economy power infrastructure model.
PowerBank’s broader pipeline now exceeds 1 GW of community solar and battery projects across North America, and the company has completed over 100 MW of projects to date. The company’s Q2 2026 financial results, reported February 13 2026, showed revenues of $22.3 million and a net loss of $6.7 million for the six months ended December 31 2025, a significant narrowing from the $28.2 million loss in the prior year. These results underscore the company’s focus on higher‑margin IPP revenue and the importance of projects like Jordan Rd 1 in driving future profitability.
The Jordan Rd 1 site sits on brownfield land, turning a previously contaminated site into a clean energy asset and contributing to environmental cleanup efforts. The project aligns with New York’s goal of 10 GW of solar capacity by 2030 and demonstrates PowerBank’s commitment to expanding renewable energy in the state. The NYSERDA incentives are a key component of the state’s strategy to make community solar more affordable and accessible.
With the incentive approvals in place, PowerBank can move forward with financing and construction, positioning the project to begin operations in the coming months. The company’s ability to secure these incentives early in the development cycle is expected to accelerate the project’s timeline and enhance its financial viability, reinforcing PowerBank’s strategy to build a robust community solar pipeline across the U.S. and Canada.
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