PowerBank procured eight solar projects totalling 30 MW and 31 MWh storage in New York and Pennsylvania, representing $74.3 million in construction value and $29.7 million of 30% Investment Tax Credits. These eight projects raise safe-harbored capacity to 97 MW and 42 MWh across 23 sites, securing tax credit eligibility through the July 4, 2026 deadline.
PowerBank executed equipment procurement agreements for eight distributed solar and energy storage projects across New York and Pennsylvania through its subsidiary Abundant Solar Power Inc. The agreements cover 30 MW DC of solar panels and 31 MWh of battery storage, leveraging relationships with Tier 1 suppliers to secure transformers and other major components.
The procurement ensures these projects meet the IRS Physical Work Test before the July 4, 2026 deadline under the One Big Beautiful Bill Act, preserving eligibility for a 30% federal Investment Tax Credit valued at $29.7 million. The total construction portfolio value is estimated at $74.3 million.
This safe harbor move brings PowerBank’s total safe-harbored portfolio to 23 projects with 97 MW DC and 42 MWh of storage. Subject to permits and financing, commercial operations are expected over the next several years, enhancing the company’s pipeline toward its 1 GW development goal.
