The breakneck speed of policy changes for US solar, a wave of investment and M&A deals in energy storage and skyrocketing power prices are the main topics of this month’s podcast.
The US is likely to install record setting amounts of battery storage this year, demonstrating the acceptance the technology has found in the power sector and as an integral part of the clean energy transition.
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).
Advocating for an investment tax credit for energy storage, a Day of Action will be launched tomorrow (8 September 2021) by the US national Energy Storage Association.
US national Energy Storage Association (ESA) members voted to approve a merger with the American Clean Power Association, starting a “powerful new chapter for energy storage,” according to ESA Interim CEO Jason Burwen.
The cost of battery energy storage in the US fell by 72% between 2015 and 2019 and utilities in the country are set to bring 10,000MW of new grid-connected capacity online in the next two years.
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.
The cost of long-duration, grid-scale energy storage should be reduced 90% within this decade in order to accommodate the “hundreds of gigawatts of clean energy” needed, US Secretary of Energy Jennifer Granholm said yesterday.
Emphasis has been placed once again on the importance of developing domestic battery supply chains for electric vehicles and energy storage by the administration of US President Joe Biden, with the country currently highly dependent on imports.
