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 in

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