Congress has extended tax credits for renewables a number of times
US energy storage could get tax credits
Industry hopes Biden administration will put in place a standalone tax credit for grid storage
Proposed tax credits for energy storage in the US could dramatically improve the penetration of energy storage on the country’s electricity grid, the industry hopes. The Energy Storage Tax Incentive and Deployment Act would create the first standalone federal tax credit for storage, regardless of whether that technology was paired with a new wind or solar project. The bill has not yet passed into law, but even if it fails there are expectations the measure will come about as a result of President Joe Biden’s ‘American Jobs Plan’ when it emerges in early June. 50pc — Annual average growth of US solar over past decade The Biden plan as it stands proposes extend the existing investment
Also in this section
12 November 2024
Standards have been agreed for a mechanism under Article 6.4 of the Paris Agreement to trade carbon credits internationally
8 November 2024
The energy sector will need all viable technologies to meet surging demand as AI and datacentres drain power grids
31 October 2024
Russia still aspires to become a major supplier of hydrogen, CO₂ storage capacity and carbon credits, despite financial constraints and the loss of Western technology and expertise
30 October 2024
Occidental subsidiary signs agreement with Enterprise Products Partners for pipelines and transport services for Bluebonnet hub
