New guidance from the US government clarifying rules around tax credit incentives for energy storage and offshore wind energy has been welcomed by clean energy trade associations.
When it comes to realising the benefits of Inflation Reduction Act (IRA) incentives, the US energy storage industry has barely scratched the surface of what’s possible, according to FlexGen’s Yann Brandt.
Just over a year ago, the passing of the Inflation Reduction Act brought in what has been considered the biggest legislative action on climate seen in the US.
A recent draft final rule on reforms of grid interconnection processes from US regulator FERC has been welcomed by the energy storage industry, although many hurdles still remain.
The US saw roughly triple the amount of grid-scale battery storage installed in the second quarter of this year as it did in the preceding quarter, in megawatt terms.
The government of Spain is launching €280 million (US$310 million) in grants for standalone energy storage projects, thermal energy storage and reversible pumped hydro to go online in 2026.
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.
