Barriers to financing for energy storage could hold back the growth of solar in the US, while an Investment Tax Credit (ITC) for standalone energy storage should be introduced, the audience heard as our publisher Solar Media hosted the Solar and Storage Finance USA event last week.

A multi-gigawatt co-location market looks set to take off within the next five years, however uncertainty over DC coupling, the need for costly symmetric grid connections and outdated regulatory frameworks risk stymying the market’s growth.

The US national Energy Storage Association (ESA) has adopted a goal for the deployment of 100GW of new energy storage using a range of technologies by 2030, updating a previously set 35GW by 2025 target.

US developer and utility NextEra Energy has said there is currently a “terrific opportunity” for wind, solar and battery storage while Texas-based CPS Energy plans to add up to 900MW of solar, 50MW of battery storage and 500MW of new technology solutions to its portfolio.

Despite making huge strides forward, the energy storage industry’s work in helping stakeholders across the value chain understand the technologies and the roles they can play in a renewable energy future is far from done. Andy Colthorpe speaks with Energy Storage Association chief executive, Kelly Speakes-Backman, at the forefront of the industry’s push into unchartered regulatory, policy and public affairs matters.

It’s by no means too late to introduce an effective Investment Tax Credit for energy storage, ESA CEO Kelly Speakes-Backman argues.

The US Solar Energy Industries Asssociation and Energy Storage Association joined forces yesterday to promote a ‘Day of Action’ in calling for an Investment Tax Credit to be applied to energy storage technologies.

ENGIE Storage will supply and operate a 19 MW / 38 MWh portfolio of six energy storage sites that will contribute to the Solar Massachusetts Renewable Target Program and be active in ISO-New England wholesale markets.

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.