Disseminated on behalf of PowerBank Corporation

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This week, PowerBank (NASDAQ: SUUN) quietly announced something that sounds boring on the surface but is actually a big win for the company …
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15 of its solar and energy-storage projects in New York have officially reached “safe harbor” before the year-end deadline.
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What does that mean?
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It means PowerBank just pulled off a move that can lead to more predictable revenue, better financing, lower risk, and a stronger long-term position in the fast-growing clean energy market.
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Let me explain.

What “Safe Harbor” Really Means (and Why You Should Care)

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Most people hear the phrase “safe harbor” and think it’s some minor paperwork requirement. It’s not.

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Under the Inflation Reduction Act (IRA), if a company “safe harbors” a solar or storage project, it locks in eligibility for federal tax credits at today’s rates

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This is a huge advantage because tax incentives can change at any time. Safe harbor lets PowerBank “freeze” today’s generous incentives for each of those 15 projects.

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For PowerBank, safe harbor means eligibility for access to federal solar tax credits, increased certainty about project economics, protection from future policy changes, cheaper financing, and a more valuable development pipeline.

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To be sure, safe harboring one project is nice. Safe harboring fifteen? That’s elite execution.

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Of course, PowerBank didn’t accomplish this in a small, low-competition state. It did it in New York – one of the most aggressive, highly incentivized clean-energy markets in the U.S.

New York has:

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  • A requirement for 70% renewable electricity by 2030

  • Billions in incentives

  • Strong support for both solar and energy storage

  • A competitive environment where only the best developers thrive

Understand, PowerBank didn’t stumble into the state. It targeted it early, learned the market, and has now built a cluster of projects that share resources and lower costs.

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Put simply, New York is one of the best places in the country to build distributed solar and storage, and PowerBank now has 15 projects locked in. And these are real projects with real revenue potential, too. 

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Make no mistake: this isn’t marketing fodder. These 15 projects represent real solar power, real energy storage, real future revenue streams, and real tax credits already secured. And that, dear reader, translates into the potential for: 

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  • long-term, predictable cash flow

  • more profit through tax equity

  • recurring revenue from operating and maintaining these sites

  • a stronger competitive position in a premium market

Now, most renewable energy developers tend to chase big utility-scale projects where everyone else is competing. PowerBank is doing the opposite.  It’s focusing on distributed projects, which are typically faster to build and easier to finance. And safe harboring 15 projects can create a powerful multiplier effect:

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  • Lower risk

  • Faster financing

  • Higher project valuations

  • Long-term recurring cash flow

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Worth noting: while many renewable energy companies struggled this year – mostly as a result of supply chain issues, higher interest rates, and slow permitting – PowerBank didn’t shrink back.  It moved forward.  It executed.  And it took steps to lock in fifteen projects under some of the most generous clean energy incentive systems the U.S. has ever offered.

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For a young, fast-moving company like PowerBank, this isn’t just another press release. It’s a strong signal, and one you shouldn’t ignore.