U.S. Rep. Mike Honda, a Democrat from Silicon Valley, California, has introduced the Energy Storage for Grid Resilience and Modernization Act, otherwise known as H.R. 5350.
If the bill becomes law, it will provide a tax credit for home and business owners who purchase energy storage systems. The tax credit for both would be 30%, which is the same amount as the renewable energy tax credit. Factories would also be eligible under the proposed law.
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