SolarBank Corporation has cleared a milestone for its 7.2 MW ground-mount solar project in upstate New York, as the Hoadley Hill Road project has passed the Coordinated Electric System Interconnection Review (CESIR).
This will allow the company to move forward with permitting, financing, and construction.
The project is expected to generate enough electricity to power approximately 850 homes and will feed directly into the local grid.
It is backed by New York’s Value of Distributed Energy Resources (VDER) program, with a projected year-one compensation rate of $0.0971/kWh.
“With the interconnection review now in the rearview mirror, we’re shifting into high gear,” said Dr. Richard Lu, CEO of SolarBank. “We’re now full speed ahead on permitting and project financing to bring this clean energy solution online.”
SolarBank is also pursuing incentives through NYSERDA’s NY-Sun Program, which could provide a one-time payment of up to $0.395 per watt (DC). These incentives aim to support solar development and reduce financial risk for developers.
Once fully permitted and financed, the project will operate as a community solar installation. Residents and businesses will be able to subscribe to the solar farm and receive utility bill credits without the need for on-site solar panels.
SolarBank has completed over 100MW of projects and has a development pipeline exceeding 1GW. The company says the Hoadley Hill project demonstrates its scalable model and commitment to long-term clean energy infrastructure.
New York currently leads the US in community solar capacity and is targeting 6 GW of installed solar by the end of 2025 as part of its Climate Leadership and Community Protection Act.
The company notes that the project’s success depends on permitting, financing, and stable policy support.
