House Bill Seeks New Energy Storage Tax Credit

U.S. Reps. Ryan Costello (R-Penn.) and Mike Doyle (D-Penn.) last week introduced a House bill that would create a new investment tax credit for energy storage.

“Supporting and encouraging the use of innovative energy technologies can help lower energy costs and improve grid resiliency,” Costello said in a statement. “When paired with recent advancements in clean and renewable energy choices, energy storage can strengthen the security of our electric grid, offer consumers greater choice, and lower the cost of energy bills.”

According to Costello’s office, the Energy Storage Tax Incentive and Deployment Act of 2017 is modeled on the existing investment tax credits for solar energy and can apply to large, utility-scale energy storage projects or smaller battery systems for residential use. The current tax code allows an ITC for energy storage when it is installed in conjunction with a solar energy system. The new bill would extend the ITC for energy storage investments in a wider range of applications and provide greater clarity and assurance to prospective investors.

The legislation is a companion to an identical bill introduced in the U.S. Senate earlier this year. 

Lead image credit: CC0 Creative Commons | Pixabay

Author

  • Jennifer Runyon has been studying and reporting about the world's transition to clean energy since 2007. As editor of the world's largest renewable energy publication, Renewable Energy World, she observed, interviewed experts about, and reported on major clean energy milestones including Germany's explosive growth of solar PV, the formation and development of the U.S. onshore wind industry, the U.K. offshore wind boom, China's solar manufacturing dominance, the rise of energy storage, the changing landscape for utilities and grid operators and much, much, more. Today, in addition to managing content on POWERGRID International, she also serves as the conference advisory committee chair for DISTRIBUTECH, a globally recognized conference for the transmission and distribution industry. You can reach her at Jennifer.Runyon@ClarionEvents.com

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Jennifer Runyon has been studying and reporting about the world's transition to clean energy since 2007. As editor of the world's largest renewable energy publication, Renewable Energy World, she observed, interviewed experts about, and reported on major clean energy milestones including Germany's explosive growth of solar PV, the formation and development of the U.S. onshore wind industry, the U.K. offshore wind boom, China's solar manufacturing dominance, the rise of energy storage, the changing landscape for utilities and grid operators and much, much, more. Today, in addition to managing content on POWERGRID International, she also serves as the conference advisory committee chair for DISTRIBUTECH, a globally recognized conference for the transmission and distribution industry. You can reach her at Jennifer.Runyon@ClarionEvents.com

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