U.S. Rep. Mike Doyle, (D-PA) has proposed a bill that would create an investment tax credit (ITC) for energy storage systems. Its goal is to extend to batteries and other electric storage systems the same 30-percent ITC offered to solar PV systems. Currently, energy storage schemes can apply for ITC backing only when they are coupled with a solar plant, under certain circumstances. Mike Doyle has since been receiving support from leading organisations.
“Like the power transmission lines that make up the grid, energy storage is a catalyst technology that makes the entire electricity supply more affordable and reliable. Expanding investment tax credit eligibility to all energy storage technologies would spark new clean energy infrastructure investment, grow American jobs, and help ensure our electricity supply is ready for future challenges.”AWEA’s CEO Tom Kiernan said.
Solar Energy Industries Association (SEIA) has also appreciated the effort.
“We congratulate Rep. Doyle for introducing this critical legislation. It’s clear that combining clean, reliable solar energy with effective storage is the next frontier in securing a resilient and reliable electrical grid. Encompassing multiple technologies, energy storage systems save excess energy and convert it back to electricity when most needed. A storage ITC benefits not only solar, but also energy from a wide range of sources, helping to meet the nation’s current and new electricity demands.Abigail Ross Hopper, president and CEO of SEIA commented.
Battery storage is a fast-growing energy technology. The goal is to get energy storage deployed at both the commercial and residential level. The Union of Concerned Scientists (UCS) explained that energy storage when combined with the falling costs of wind turbines and solar power, would make renewable electricity even cheaper than running existing fossil fuel plants in many parts of the country.
A group of tech enthusiasts who are tracking latest developments in CleanTech with special focus on Energy Storage and Electric Mobility