US’ Proposed Moving Forward Act Stimulus Bill Includes Standalone Storage ITC

on June 25, 2020

An ITC for standalone energy storage systems could finally become reality with its inclusion in a US$1.5 trillion infrastructure investment Bill, tabled by House Democrats.

Our sister site PV Tech reported earlier this week that the ‘Moving Forward Act’ includes measures to support solar and other renewables, including an investment of more than US$70 billion to help modify the electric grid across America to accommodate for renewable energy.

It also included grant programmes for solar in low income communities and at schools, pledged to reduce the soft costs of project development such as streamlining permitting and to set targets for renewable energy deployment. The Act has been welcomed by the Solar Energy Industries Association (SEIA) and SEIA CEO Abigail Ross Hopper said it could “help put American solar workers in a position to lead economic recovery”.

US Energy Storage Association (ESA) CEO Kelly Speakes-Backman also said this week that the inclusion of energy storage in the act was “greatly appreciated” and that “these these common-sense, forward-looking policies with bipartisan and bicameral support are crucial”.

The eligibility for energy storage for the investment tax credit (ITC), which currently only applies a rebate to project developers and stakeholders if the energy storage is combined with solar and installed at the same time as the solar i.e. no retrofits, the promotion of electricity storage on the grid particularly to support electric vehicle (EV) infrastructure and the slightly more vague promise to promote innovation in energy storage were all welcomed by the ESA CEO.

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Fractal Energy Storage ConsultantsUS’ Proposed Moving Forward Act Stimulus Bill Includes Standalone Storage ITC