Investment tax credit (ITC) incentives for energy storage have been included in the US House of Representatives’ chief tax-writing committee, along with extensions to the solar ITC and reintroduction of a solar production tax credit (PTC).
Hydrostor, a Canadian company with projects under development in North America and Australia using its advanced compressed air energy storage (A-CAES) technology, has secured CA$10 million (US$7.99 million) growth capital.
A “once-in-a-generation” commitment to invest in the US’ national infrastructure includes financial support for energy storage supply chains and renewable energy deployment, but not the investment tax credit for standalone energy storage.
Australia’s federal government has committed millions of dollars in grants to companies involved in lithium battery and vanadium redox flow battery value chains, as part of a wider pledge to support resources and critical minerals sectors in the country.
Stubbo Solar Farm and Battery, a project under development in New South Wales (NSW), Australia, which would pair 400MW of solar with 200MW / 200MWh of battery energy storage, has taken a step closer to going ahead.