New legislation that would enable standalone energy storage projects to get investment tax credit (ITC) support has been proposed in the US, the American Wind Energy Association (AWEA) said on Thursday.
The bill known as the Energy Storage Tax Incentive and Deployment Act has been introduced by Representative Mike Doyle (D-PA). Its goal will be to allow batteries and other electric storage systems to qualify for the same 30% ITC support given to solar photovoltaic (PV) projects.
Currently, energy storage schemes can apply for ITC backing only when they are coupled with a solar plant, under certain circumstances.
Applauding the new proposal, AWEA’s CEO Tom Kiernan said: “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."
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.