The US Internal Revenue Service (IRS) has revealed how smaller and tax-exempt organisations can take advantage of clean energy investment tax credits (ITC), with guidance on direct pay and transferability.

Inflation Reduction Act looks to be safe from cuts to maintain the national debt ceiling, according to Wood Mackenzie Power & Renewables.

Eolian has taken the amount of financing it has raised in just three years since founding to more than a billion-and-a-half-dollars.

The US’ installed base of utility-scale battery energy storage systems (BESS) increased by 80% in 2022, as the industry had a record-breaking year.

BESS projects in the US need to be 40% US-made to qualify for the ITC domestic content adder, rising to 55% from 2027 onwards, the IRS has said.

Inflation Reduction Act has created buzz but not yet business deals for flow battery maker ESS Inc, according to CEO Eric Dresselhuys.

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.

The new investment tax credit (ITC) for standalone energy storage means some US developers are opting to overbuild systems instead of augmenting them further down the line.

Texas continues to be a hotbed for energy storage activity, as CATL announces major supply deal and first project to get ITC comes online.

Energy storage developer Eolian has completed an investment in two standalone battery energy storage projects in Texas, which it claims is the first use of the Inflation Reduction Act’s new tax credit incentives (ITC).