In an overwhelming show of solidarity, 37 energy-storage companies and associations have written a letter to Congressional leaders asking them for clarification on whether their products qualify for the investment tax credit (ITC) and urged them to support their inclusion in upcoming tax legislation.
With a vote on the Trump Administration’s comprehensive tax reform bill looming on the horizon, the group is asking Congress to codify the Internal Revenue Service’s previous Private Letter Rulings and guidance on the issue.
The group also said the energy-storage industry supports 70,000 employees that would benefit from this clarification because it would encourage further investment in the segment and grow that number even further.
If those arguments sound familiar, it’s because they echo the arguments made by the solar industry in 2008 when it lobbied for the original ITC for the industry, and reiterated most recently in 2015, when the ITC was extended.
Recently, the solar ITC came under attack in the Senate’s version of the tax reform bill, but intense lobbying by the solar industry helped mitigate the damage, though it did not emerge unscathed. It appears the energy storage industry learned from that experience and is trying to codify its ITC eligibility in a separate law to keep any tax legislation from harming it.
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In Massachusetts,
The European Council (EC) has agreed a new position on the internal electricity market, placing consumer empowerment, cross-border trading and higher levels of renewables at the heart of the European Union’s efforts to transition to a low carbon economy.
California has already postponed and even canceled plans to build new natural-gas-fired power plants in favor of distributed energy. But it hasn’t proposed to replace an existing power plant with them — until now.
Battery energy storage systems have always been in news. Given that inefficiencies in the power sector are always attributed to the fact that power can’t be stored at scale (so you need to over-build in every part of the value chain), grid scale storage solutions have been the holy grail for quite some time! As recent data suggests, this is not too far in the future. Bloomberg New Energy Finance (BNEF) has predicted cost of storage systems to fall to 1/10th of the 2010 levels by 2025 (see below). The learning curve of storage lies at 20%, which means that cost reduces by 20% for every doubling of storage capacity.
AMHERST — Chemists have been trying for years to make a new type of battery that can store solar energy in chemical bonds rather than electrons, and release the energy on demand as heat instead of electricity — addressing the need for long-term, stable, efficient storage of solar power.
LONDON/AMSTERDAM (Reuters) – Dutch energy storage systems group Alfen is planning a share market listing in Amsterdam in the first half of 2018, hoping to benefit from surging demand for its large batteries and electronic vehicle charging stations, people close to the matter said.
The British retailer, Marks and Spencer, and the property developer, Landsec, announced that they are exploring battery storage technologies on their estates.
When you hear energy storage and graphene mentioned in the same sentence this usually refers to electrical energy. Let’s take a brief look at some of the research that has been coming out of the labs recently…