SolarBank, a developer and operator of solar and battery energy storage systems, said it is strategically positioning its U.S. and Canadian operations to respond to shifting clean energy incentives under new federal legislation.
The so-called Big Beautiful Bill (BBB) introduced in the United States extends eligibility for clean energy investment tax credits (ITCs) to projects that begin construction by July 4, 2026, provided they reach commercial operation within four years.
“SolarBank is prepared,” said Dr. Richard Lu, CEO of SolarBank. “We have enough advanced-stage projects we can get into construction before the deadline to take advantage of the tax credits. In particular, there is still enough time to execute on the projects supported by the $100 million financing with CIM.”
The company said it is prioritizing development in U.S. states where permitting, site control, and interconnection progress are advanced, enabling eligibility for full ITC treatment. The $100 million in capital announced through a strategic partnership with CIM Group will support construction of a 97-megawatt portfolio in these markets.
At the same time, SolarBank emphasized that its Canadian operations provide resilience against U.S. policy uncertainty. The firm is currently deploying battery energy storage systems in Ontario through the Independent Electricity System Operator’s (IESO) Long-Term RFP framework. It also maintains a significant role in Nova Scotia’s Community Solar program.
“SolarBank benefits from Canada’s support to clean energy,” Dr. Lu added, “and is leading the charge to build Canada as an energy superpower.”
He also referred to Canada’s infrastructure push under the “Build, baby, build” initiative as a potential accelerant for shovel-ready renewable energy projects.
Despite macroeconomic challenges, the company noted continued strength in the U.S. solar market. “March 2025 marked the 19th consecutive month that solar was the largest source of new electrical capacity in the U.S.,” Lu said. “As costs continue to fall, and with superior speed to market, in my view there remains a bright future for solar and battery storage projects.”
SolarBank said it will continue to monitor regulatory changes and adjust its construction and financing strategies to maximize incentives and shareholder value.
The company also cautioned that project development is subject to permitting, community solar contracts, third-party financing, and regulatory risks. It noted that funding from the CIM agreement depends on the execution of final documentation and the achievement of certain development milestones.
