Two 5MW/10MWh battery storage units have entered commercial operation in Vermont, US, owned by Strata Clean Energy, deployed by LS Energy Solutions, and financed using the new investment tax credit (ITC).
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.
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.