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.
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.
While market opportunities for energy storage in Texas are considered to be limited, the largest battery project in the state so far, a 42MWh system, has just come online.
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).
Hawaii’s position as one of the leading US states for energy storage deployment shows no sign of weakening as Hawaiian Electric Co last week announced 120MW of new battery storage across two projects in Oahu.
Senator Martin Heinrich has proposed granting tax relief for purchasers of energy storage systems, in a similar way to how the Investment Tax Credit (ITC) is applied to residential solar PV purchases.
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.
System provider JLM Energy has launched the first in a suite of energy storage products that connects battery storage directly to solar panels.
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).