There has been US$150 billion of announced investments into the US’ upstream and downstream clean energy industry since the Act was passed, according to American Clean Power (ACP).

There is a long way to go before the new standalone storage investment tax credit (ITC) starts to really make a dent in the market, speakers and delegates at the Energy Storage Summit USA last month said.

Scale Microgrids Solutions will build a renewables microgrid for a Native American tribe in California, announcing the new project a few weeks after securing a US$225 million debt facility.

New York is often considered among leading US states for energy storage, based on ambition and favourable policy direction rather than action.

Canada will introduce tax credit incentives and invest in developing and manufacturing solar PV, energy storage and other renewable energy technologies in an Inflation Reduction Act-style scheme.

US energy efficiency and renewables company has entered into “strategic relationship” with Australian flow battery provider.

Adapting transmission infrastructure and accurately valuing energy storage are the major challenges to deployments in the US today, said panellists on the Keynote discussion at Energy Storage Summit USA today.

The investment tax credit is an undoubted game changer for the US industry, but it isn’t easy or cheap to capture its benefits.

The New York Public Service Commission has given utilities until the end of 2028 to put in place large-scale energy storage resources, extending a previous 2025 deadline.