Failing to create an investment tax credit as part of the ongoing tax extenders legislation, a coalition of clean energy trade bodies in the US have urged.
This year has already seen “significant acceleration” of activity in the global grid-connected energy storage market, with 4.3GW expected to be deployed this year, analysis firm IHS Markit has said.
A push to establish an Investment Tax Credit (ITC) for energy storage has not only been welcomed by clean energy advocates and the industry, but might also meet the some stated aims of the Trump administration’s energy policies, an analyst has said.
The US government has been urged to recognise the “critical role” energy storage can play in making the grid cleaner and able to accept more renewable energy, by increasing the eligibility of batteries and other technologies to receive the Investment Tax Credit (ITC).
Welcome to Part 2 of our in-depth talk with Nancy Pfund, managing partner at DBL Partners, a venture capital firm specialising in companies and start-ups that offer both rewarding financial returns and positive social impacts. As well as being one of the earliest backers to Tesla and SolarCity, to utility-scale solar tracker company NEXTracker to Off-Grid Electric, which deploys solar in rural Africa; to others in energy storage like Advanced Microgrid Solutions and Primus Power, Pfund is extremely well-placed to offer a quick Q&A ‘masterclass’ in energy storage investing.
US senators have introduced a new Bill for energy storage that brings in investment tax credits (ITC) for both grid-scale and residential energy storage systems, in a bid to open up competitive storage markets.
A bill introduced in Congress last week that could apply an energy investment credit for storage systems in the US, has been welcomed by the US Energy Storage Association (ESA).