PowerBank Corporation has advanced plans for a 3.2 MW DC ground-mounted solar project in Broome County, New York. The Scofield project will operate as a community solar facility designed to provide clean energy access through the local electricity grid. The project follows a lease agreement and moves toward interconnection approval, permitting, and financing. With an estimated construction value of $8 million, the development highlights continued investment in renewable energy infrastructure.
PowerBank Secures Lease Agreement for Scofield Solar Project
PowerBank Corporation (NASDAQ:PBK), a Canadian clean energy developer, has signed a lease agreement for the Scofield solar project in Broome County, New York.
The project involves a 3.2 MW DC ground-mounted solar facility and represents a redesigned and relocated version of the previously announced Boyle Road solar project.
PowerBank expects the Scofield project to qualify for incentives under the New York State Energy Research and Development Authority’s (NYSERDA) NY-Sun Program.
The company has already started the interconnection application process. After receiving grid connection approval, PowerBank plans to complete permitting requirements and secure financing before beginning construction.
Community Solar Model Expands Access to Renewable Energy
The Scofield project will operate as a community solar facility. This model allows multiple households to benefit from solar energy generated at a shared location without requiring individual rooftop solar installations.
Once operational, electricity produced by the solar panels will feed into the local power grid. Subscribers can receive credits on their electricity bills based on their share of the solar energy generated.
Community solar projects provide an alternative for homeowners and renters who cannot install solar panels on their own properties.
Through the Scofield project, PowerBank expects the facility to generate enough electricity to support the equivalent energy needs of approximately 400 homes.
Project Moves Through Development and Approval Stages
Before construction begins, the Scofield solar project must complete several development steps.
PowerBank is currently pursuing grid interconnection approval. Following approval, the company will move forward with permitting and construction financing activities.
The project development process includes:
- Completing the interconnection approval process with the local grid system
- Finalizing required permits for construction
- Securing financing for project development
- Beginning construction activities after approvals are completed
The company stated that project implementation remains subject to required approvals and financing arrangements.
Solar Project Expected to Receive State and Federal Incentives
The Scofield project is expected to qualify for renewable energy incentives from both state and federal programs.
PowerBank expects the project to receive support through NYSERDA’s NY-Sun Program, which supports solar energy development in New York State.
The project is also expected to remain eligible for federal Investment Tax Credits (ITC) under the One Big Beautiful Bill Act of 2025.
According to PowerBank, physical work on the project began before the July 4, 2026 eligibility deadline. The company expects the project to satisfy the Internal Revenue Service Physical Work Test, allowing it to maintain eligibility for Section 48E investment tax credits.
Construction Value Estimated at $8 Million
The Scofield solar project has an estimated construction value of approximately $8 million.
PowerBank expects the project to qualify for federal investment tax credits valued at approximately $3.2 million, provided it meets IRS requirements.
Investment Tax Credits have supported solar development since 2006. These incentives provide financial benefits for qualifying solar projects that meet specific requirements.
The Section 48E Investment Tax Credit program under the One Big Beautiful Bill Act includes a phase-out schedule for solar facilities. Projects that began construction before the specified deadline can retain eligibility under the program.
Ground-Mounted Solar Facility Will Support Local Grid Supply
The Scofield project will use a ground-mounted solar design connected to the local electricity grid.
Unlike rooftop solar systems installed on individual buildings, community solar facilities generate electricity at a shared site and distribute benefits among participating subscribers.
The project’s design allows households to access solar energy benefits through electricity bill credits rather than installing private solar systems.
PowerBank expects the completed facility to contribute additional renewable energy capacity to the local grid while supporting community solar participation.
Project Represents PowerBank’s Renewable Energy Development Strategy
PowerBank Corporation develops and owns clean energy projects, including solar infrastructure developments.
The Scofield project aligns with the company’s focus on renewable energy assets and community solar development.
By advancing projects such as Scofield, PowerBank aims to participate in the expansion of solar generation capacity while developing projects supported by state and federal incentive programs.
The company is continuing project development activities while working through approval, permitting, and financing requirements.
Scofield Project Replaces Previously Announced Boyle Road Development
The Scofield solar project represents a relocation and redesign of PowerBank’s previously announced Boyle Road project.
The updated project maintains the company’s focus on developing solar capacity in Broome County while adapting the project design.
PowerBank expects the revised project structure to support continued progress toward construction and operation.
Future Outlook for New York Community Solar Development
The Scofield solar project demonstrates the continued development of community solar infrastructure in New York. With a planned capacity of 3.2 MW DC, the project aims to provide renewable electricity to local subscribers while supporting broader clean energy goals.
The project remains dependent on interconnection approval, permitting, financing, and other development requirements before construction begins.
If completed, the facility will represent an $8 million investment in renewable energy infrastructure and provide solar energy access for households through the community solar model.
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