A group of nine influential environmental groups has joined calls for energy storage to get access to the same tax credits as solar and wind.
Legislation has been introduced in both houses for an investment tax credit (ITC) for energy storage. As it stands energy storage systems have to be paired with an ITC recipient such as a solar farm in order to be eligible.
The 30% ITC, due to step down to 26% at the end of the year, was one of the crucial sparks for rooftop solar’s breakout, especially after a $2,000 cap was lifted in 2008.
In the letter to the House Ways and Means Committee and the Senate Finance Committee, the signatories said:
“Clarifying energy storage’s full eligibility for the ITC would accelerate energy storage deployment, improve power system reliability and resilience, and optimize the nation’s renewable energy resources.
“An energy storage tax credit is a shared priority for extenders legislation. Such a credit provides a uniquely near-term and impactful way to accelerate the transition to renewable energy, spur economic growth, and reduce greenhouse gas emissions.”
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