US Representative proposed ITC for energy storage
Post date: 07/04/2019 - 17:34
Pennsylvanian Congressman Mike Doyle introduced the Energy Storage Tax Incentive and Deployment Act. This legislation would expand the solar investment tax credit (ITC) to encompass energy storage technology for utilities, businesses, and homes. The bill »would encourage the use of energy storage technologies and incorporating them into the national electric grid,« said Doyle. It would »promote greater investment and research in energy storage technologies, bolster the advanced energy economy, and create more clean energy jobs.« The Energy Storage Tax Incentive and Deployment Act should expand the existing investment tax credit for solar energy and can apply to large, utility-scale energy storage projects or smaller battery systems for residential use.
According to consultancy Mercom Capital Group, the proposed bill would establish the 30 percent tax credit for both commercial and residential energy storage through 2021. The incentive would then be phased down annually before leveling off to a standard, permanent 10 percent tax credit after 2021 for commercial projects and would zero out for residential projects.