The US Treasury and Internal Revenue Service (IRS) have finalised the rules and process for the 45X advanced manufacturing tax credit, which effectively provides a subsidy to domestic clean energy technology manufacturing, including batteries.
The BESS industry is looking at ways to leverage the 45x tax credit for domestic cell manufacturing in the US, with the domestic content investment tax credit (ITC) bonus still unclear.
There is a four-fold difference between how much energy storage the US Department of Energy (DOE) forecasted would be deployed by 2040 before the Inflation Reduction Act (IRA), and how much it now forecasts.
Europe’s response to the US’ Inflation Reduction Act (IRA) has been a big talking point at Giga Europe, and one panellist said the simplicity of the IRA has been key to its success.
The US Department of Agriculture (USDA) is putting US$2.3 billion into projects increasing energy resiliency in rural communities, with two energy storage projects already shortlisted for awards in Arizona and Nebraska.
Energy storage investment tax credits (ITC) were priced more highly than any other clean energy type in transferability transactions last year, according to a report from tax credit ecosystem Crux which its CEO discussed with Energy-Storage.news.
A dedicated energy storage investment division has been launched by Foss & Company, an investment and investment services firm which specialises in tax credit transactions, with US$3 billion targeted by 2028.
John Leonti, head of the energy transactional practice at law firm Troutman Pepper, reflects on the year since the Inflation Reduction Act (IRA) passed, and considers what we might see going forward, in a Q&A.
The Inflation Reduction Act brought a sense of confidence and certainty to the business of clean energy. Lawyers Adam Schurle and Morten Lund at Foley Lardner take a closer look at what that means for tax equity financing of energy storage, while exploring some of the questions still to be answered.
