GTM: Policy study focuses on energy storage incentives in Hawaii and Maryland

LinkedIn
Twitter
Reddit
Facebook
Email
GTM’s latest report details which state energy storage incentives to watch beyond California’s SGIP. Source: Flickr/Justin De La Ornellas

Whilst most of the federal incentive buzz for energy storage surrounds California’s Self-Generation Incentive Programme (SGIP), new bills from Hawaii and Maryland provide insights on how state storage incentives are moving beyond the Golden State.

GTM Research’s new report entitled ‘Rise of the Incentives: Storage Opportunities in Hawaii and Maryland’ details firstly how if Hawaii’s HB 1593 is passed, it could become a main driver for storage. Hawaii is already an ideal market for solar-plus-storage projects; with its rural Island grid connectivity issues and high penetration of solar and equally high electricity rates. Therefore, there is definitely market demand for storage incentives.

GTM Research’s economic modelling revealed that the incentives increase IRR between 110 basis points and 140 basis points with a net present value by almost US$1,000 for a typical residential customer.

“There’s an unmistakable benefit to having a storage system for new solar customers in Hawaii, although it is clear that legislators were careful to propose a moderate incentive that prevents a gold rush,” said Brett Simon, energy Storage analyst at GTM Research and report author.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

Secondly, Maryland’s SB 758 earmarks US$750,000 annually in tax credits for behind-the-meter energy storage systems, which could amount to 150 residential or 10 commercial systems (or a mix of both). Simon notes that this bill is a “foundational” piece of legislation that would really establish Maryland’s energy storage market, with the state most well-known for its community solar efforts.

“States will increasingly lead the charge for energy storage policies in the US,” Simon notes in his report, “and the outcome of Hawaii and Maryland’s incentive programs will offer key takeaways that other states can employ when crafting their own storage initiatives.”

20 April 2027
Renaissance Dallas at Plano Legacy West Hotel, Dallas, Texas, Dallas
Policy, Procurement and Power Demand: Defining the Next Chapter for Energy Storage. Two days in Dallas where developers, IPPs, investors, utilities and the manufacturers building the technology come to close deals, not swap business cards. If you need to be in the room with the people deploying capital into US storage, this is that room.

Read Next

October 27, 2026
South Korean battery and electronics materials manufacturer Samsung SDI has signed a 1GWh supply agreement with US IPP Alpha Omega Power (AOP).
October 26, 2026
Heron Power and NiSource have separately announced US data centre-focused deals involving battery energy storage systems (BESS) in recent days.
Premium
October 26, 2026
BESS industry experts note that rising complexity in BESS software is driving calls for industry-wide interoperability and data standards.
October 23, 2026
Tech giant Google and distributed energy resource (DER) platform Voltus have announced an expanded agreement to build a 1GW virtual power plant (VPP) in the US.
October 22, 2026
In recent North American sodium-ion news, Hithium is entering the Canadian market with two BESS solutions, while Peak Energy has closed a Series B financing round led by GM.