SolarBank adjusts strategy following U.S. clean energy policy changes

SolarBank Corporation (NASDAQ: SUUN) announced July 10 that it is positioning itself to navigate policy changes in North America's clean energy landscape following new U.S. federal legislation.

The company said recent federal legislation, referred to as the Big Beautiful Bill, establishes a new timeline for clean energy investment tax credits. Projects that begin construction by July 4, 2026, can qualify for full tax credits if they reach commercial operation within four years.

"We have enough advanced-stage projects we can get into construction before the deadline to take advantage of the tax credits," said Dr. Richard Lu, CEO of SolarBank. "In particular, there is still enough time to execute on the projects supported by the $100 million financing with CIM."

The company has prioritized development in U.S. states where site control, interconnection progress, and permitting are sufficiently advanced to qualify for full investment tax credit treatment. The $100 million in project-level capital through a strategic partnership with CIM Group will fund construction on a 97 MW portfolio in these markets.

SolarBank is also deploying battery storage systems in Ontario under the Independent Electricity System Operator's Long-Term RFP framework and operates in Nova Scotia's Community Solar program.

According to federal data cited by the company, the United States will need to add over 206 gigawatts of new power capacity by 2030, with solar expected to supply nearly three-quarters of that demand. In Q1 2025, solar and wind accounted for 98% of new capacity brought online nationwide.

The company noted that March 2025 marked the 19th consecutive month that solar was the largest source of new electrical capacity in the U.S.

SolarBank develops solar, battery energy storage systems, and EV charging projects across Canada and the United States. The company has a potential development pipeline of over one gigawatt and has developed renewable energy projects with a combined capacity of over 100 megawatts built.

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