PowerBank Corporation (NASDAQ: SUUN) has executed equipment procurement agreements covering eight distributed solar and energy storage projects across New York and Pennsylvania, safe-harboring approximately 30 MW DC of solar and 31 MWh of battery storage for the U.S. clean-energy investment tax credit through its Abundant Solar Power subsidiary.
Locking In Tax Credit Eligibility
The procurements were sized and timed to satisfy the IRS 5% safe-harbor rule that lets developers preserve current investment tax credit rates by spending at least 5% of total project cost on qualifying equipment. The move follows a 6 June 2026 U.S. District Court ruling that vacated Treasury guidance restricting how wind and solar projects could prove safe-harbor eligibility, restoring the broader cost-based path.
Pipeline North Of 1 GW
Abundant Solar Power's broader U.S. pipeline now exceeds 1 GW of distributed solar and behind-the-meter storage, with community solar in New York and commercial sites in Pennsylvania accounting for the majority of near-term builds. The freshly safe-harbored 30 MW / 31 MWh tranche is expected to move into construction in 2027.
Adding To A Booming Storage Stack
The announcement lands alongside other large storage and renewables moves, including NTPC Green Energy's 3,200 MWh BESS tender and battery-plant equipment buildouts.
Reporting based on coverage from PR Newswire, GreenTech Lead and Utility Dive.