- Despite policy uncertainty, demand for scalable solar and storage solutions in North America remains strong, especially in commercial and community sectors, the Zacks report says.
- The company has a development pipeline exceeding 1 GW and is aiming to triple its owned capacity in the next two years.
- SolarBank is expanding from solar EPC services into independent power production (“IPP”) and battery energy storage systems (“BESS”).
Disseminated on behalf of SolarBank Corporation
Zacks Small-Cap Research has launched coverage of SolarBank (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: GY2), a premier developer and owner of renewable and clean energy projects, specializing in distributed and community solar initiatives throughout Canada and the U.S. (https://ibn.fm/lYkSZ). The Zacks report highlights SolarBank’s growing role as an integrated energy firm with a strategy focused on building out its independent power production (“IPP”) capabilities and battery energy storage systems (“BESS”) to meet rising electricity demand in North America.
SolarBank is transitioning from an engineering, procurement, and construction (“EPC”) provider to owning and operating more of its own solar and storage assets. This shift is expected to improve revenue consistency and margins over time. The company is currently managing a project pipeline that exceeds 1 gigawatt (“GW”) and has already completed installations totaling more than 200 megawatts (“MW”), according to the Zacks report (https://ibn.fm/XBhNS).
Currently, SolarBank has approximately 25 MWp of solar and 60 MWh of storage under construction, with another 149 MWp in late-stage development. Over the next 24 months, the company expects to triple its owned solar and storage capacity. This growth is being driven by both private-sector demand and the need for energy systems that can be quickly deployed.
Zacks expects significant revenue growth for SolarBank in FY2025 and FY2026. This projection is supported by contracts with Qcells and Honeywell and an expanding backlog of IPP and BESS projects. The battery energy storage segment, in particular, is emerging as a critical piece of North America’s energy infrastructure. BESS is forecast to be the fastest-growing part of the energy sector through 2030, driven by the electrification of transportation, increasing data center demand, and grid stability needs. SolarBank’s involvement in this space positions it well to benefit from these trends.
Policy risk remains a factor. Although political developments have introduced uncertainty into federal renewable energy policy, potentially affecting incentives and regulatory frameworks, Zacks notes that the practical need for new energy infrastructure—especially in commercial, industrial, and community-scale solar—will likely continue to drive demand regardless of political developments.
SolarBank’s share price has seen volatility in recent months, influenced by macro policy signals and recent below-market financing. However, the Zacks report suggests that the company’s fundamentals and strategic focus could offer upside for investors willing to navigate short-term market noise.
Investors interested in the renewable energy space may find SolarBank’s expanding IPP footprint and BESS focus to be compelling aspects of a longer-term growth story, particularly as utility-scale and commercial solar continue to outpace residential deployment. As the demand for scalable and reliable energy solutions rises, SolarBank’s role as both a developer and operator could position it to deliver more consistent returns in a sector known for volatility.
For more information, visit the company’s website at SolarBankCorp.com.
This report contains forward looking information. Please refer to the press release entitled “SolarBank Announces 2024 Highlights” for additional details on the statements, risks and assumptions. The target price and revenue forecasts in the report are based on Zacks analysis and the company has not provided guidance to Zacks on this matter. While SolarBank paid Zacks a fee to complete the report, the report was based on Zacks analysis.
NOTE TO INVESTORS: The latest news and updates relating to SUUN are available in the company’s newsroom at https://ibn.fm/SUUN
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