en.Wedoany.com Reported - PowerBank Corporation's portfolio of 23 distributed solar and energy storage projects has secured federal safe harbor status in the United States, involving 97 megawatts of solar capacity and 42 megawatt-hours of battery storage, covering New York State and Pennsylvania.
PowerBank is a vertically integrated developer and independent power producer headquartered in North America, specializing in the development and production of solar photovoltaic and battery energy storage projects. The company currently powers the digital economy and artificial intelligence data centers through a development pipeline exceeding 1 gigawatt. With a portfolio of 23 distributed solar and energy storage projects achieving safe harbor status, PowerBank Corporation has further solidified its position in the North American renewable energy market. Upon full construction, this portfolio comprises 97 megawatts of solar capacity and 42 megawatt-hours of battery storage, spanning across New York State and Pennsylvania, making the projects eligible for U.S. federal clean energy incentive policies and supporting the company's expansion strategy.
In recent years, one significant change in the solar industry has been developers combining power generation with energy storage. Clean energy projects such as solar and wind power are prone to intermittency issues due to their reliance on unpredictable weather. To overcome this challenge, developers now integrate power generation with energy storage. PowerBank Corporation announced that its equipment procurement agreements include 23 distributed solar and energy storage projects developed through its wholly-owned subsidiary, Abundant Solar Power Inc., with a total estimated construction value of approximately $242.3 million. Industry experts believe these agreements are sufficient to qualify the projects for U.S. federal investment tax credits under the 2025 One Big Beautiful Bill Act. The company has also achieved two separate procurement milestones, thereby securing safe harbor status.
The first milestone includes 15 late-stage projects in New York State, involving approximately 67 megawatts of solar capacity and 11 megawatt-hours of battery storage, with an estimated construction value of $168 million and potential investment tax credit eligibility of approximately $65 million. The second procurement phase includes an additional 8 projects, distributed across New York State and Pennsylvania, providing an additional 30 megawatts of solar capacity and 31 megawatt-hours of storage capacity, with an estimated construction value of $74.3 million and a potential tax credit value of $29.7 million. These 23 projects are planned to operate as community solar and net metering projects upon completion of financing, permitting, and construction activities.
These projects participate in the community solar model, allowing numerous customers to benefit from shared solar installations without installing individual rooftop systems. The combined 42 megawatt-hours of storage capacity helps enhance grid flexibility. These projects are expected to generate enough electricity to power approximately 11,000 households.
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