SolarBank Corporation recently received plan approval and a special use permit for its 3.25 MW solar project in Camillus, New York.
The project, planned to supply approximately 360 homes with green energy, is part of their growing portfolio of independent power producers.
Project development
The project is located on a former landfill site, allowing otherwise unusable land to be put to good use.
Conceived as a community solar project, it will enable subscribers to purchase solar credits and benefit from reductions on their electricity bills without having to install panels at home.
Incentives and Financing
The project is eligible for incentives under the NY-Sun program of the New York State Energy Research and Development Authority (NYSERDA).
These incentives are essential to make the project economically viable and attract the investment needed for its construction.
With the granting of the special permit, SolarBank must now secure the financing required to start construction.
The project is expected to reach the construction start notification phase in the third quarter of 2024.
Risks and challenges
The development of this project involves risks, including the continued availability of third-party financing and the stability of government incentives.
Changes in solar support policies could affect the economic viability of future projects.
The 3.25 MW Camillus solar project marks a milestone for SolarBank.
Using landfill sites to generate solar power demonstrates an innovative use of available resources.
With the approval of the special permit, SolarBank is well positioned to move forward with construction and commissioning, while navigating the financial and regulatory challenges of the sector.
