SolarBank's $41 Million Sale to Honeywell: A Stepping Stone in Expanding Community Solar Sites in Upstate New York

livemint.com:

SolarBank’s (CSE: SUNN OTC: SUUNF) recent sale of 21MW ground mount solar power projects, to Honeywell International for $41 million marks a milestone in SolarBank’s role in the renewable energy landscape of the United States. This deal, along with an engineering, procurement and construction (EPC) agreement, strengthens the collaboration between SolarBank Corporation and Honeywell International. These projects, known as SB 13 1 SB 13 2 and SB 14 have a feature – they are designed as community solar sites.

Community solar projects are becoming increasingly popular as they provide an opportunity for a wider range of people to benefit from energy without having to install panels on their property. The solar panels will generate electricity that will be fed into the power grid. Participants in these projects can earn credits on their bills enabling both homeowners and renters in the community to save money and enjoy the advantages of clean renewable energy.

Furthermore these projects meet the eligibility requirements for participation in the NY Sun Program. The projects also have the potential to benefit from the NY Sun Program by the New York State Energy Research and Development Authority (NYSERDA) which offers incentives, for power initiatives. If deemed eligible this program could provide support to these already impressive endeavors making them even more attractive to prospective participants.

Below are photos of some of the existing projects that SolarBank has constructed: Dr. Richard Lu, Chief Executive Officer at SolarBank expressed his enthusiasm for the growing partnership between Honeywell and SolarBank emphasizing its implications for energy. Dr.