PowerBank Secures 30 MW Solar and Energy Storage Portfolio Under Safe Harbor Provisions

## PowerBank Secures 30 MW Solar and Energy Storage Portfolio Under Safe Harbor Provisions PowerBank has announced the safe harbor of a distributed solar and energy storage portfolio comprising 30 MW of solar capacity and 31 MWh of battery energy storage, according to a PR Newswire release. The projects carry a combined construction value of $74.3 million USD and are estimated to generate $29.7 million USD in potential federal tax credits. The portfolio, which spans community solar and energy storage installations, is expected to generate sufficient clean power to serve the equivalent of approximately 3,500 homes. Critically, the projects retain eligibility for the 30% Investment Tax Credit (ITC) under current federal clean energy legislation, along with potential bonus adders that could further enhance their financial profile. The safe harbor designation is a significant milestone for project developers, locking in tax credit eligibility under existing rules and providing greater certainty for investors and financing partners amid an evolving federal policy landscape. ### Relevance to the Maritime and Coastal Energy Sector While PowerBank's announcement is primarily focused on community-scale distributed energy, the broader trend of safe-harboring clean energy assets carries direct implications for the maritime and port energy sectors. Ports and marine terminals across the United States have increasingly looked to distributed solar and battery storage solutions to reduce grid dependency, lower operating costs, and meet tightening environmental compliance requirements. Energy storage projects of this scale are directly analogous to shore power and cold-ironing infrastructure investments being pursued by major port authorities, where stable tax credit frameworks are essential to project bankability. The 30% ITC, combined with potential bonus adders for projects in designated energy communities or low-income areas, represents a meaningful cost offset for capital-intensive energy infrastructure. The safe harbor mechanism — which allows developers to lock in tax credit eligibility by committing capital before policy changes take effect — has become an increasingly important tool as the industry navigates uncertainty around federal clean energy incentives. PowerBank's move to secure this portfolio underscores growing momentum among energy developers to accelerate project timelines and protect investment returns in the current regulatory environment. *Source: PR Newswire*