Proposal for an ITC for Storage Introduced

HaHaSmart Solar NewsNovember 26, 2019715


Proposal for an ITC for Storage Introduced

The head of the US national Energy Storage Association has announced that an Investment Tax Credit (ITC) for solar power storage in the US may be more impactful than any other policy.

An interview with sister publication, ESA chief executive Kelly Speakes-Backman the implementation of a storage ITC, commenting that the asset class was currently enjoying “extremely strong, bipartisan support” from US Congress, the Department of Energy and other administration.

Speakes-Backman stated, “Frankly, it made sense at the very beginning to have these, the solar-plus-storage [ITC eligible projects]. But storage is applicable to so much more than just being coupled with solar now, that I think it’s important to create a level playing field.”

Currently, energy storage projects are eligible to receive the solar ITC only if they are simultaneously and co-located with solar power generation, but congress is due to debate the option of a standalone storage ITC later this year.

Do you think Congress will give energy storage a standalone ITC? Comment below and let us know!

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