Environmental, conservation and clean energy organizations rally for energy storage investment tax credit
While both chambers of Congress consider modifications to investment tax credits, a coalition of nine environmental, conservation and clean energy groups are adding pressure to the movement in favor of an energy storage investment tax credit.
Earlier this month, legislation was introduced to Congress that would modify investment tax credits and clarify language on the books to make energy storage technologies eligible. This represents a major change in energy policy, as energy storage technologies currently can only gain the credit as part of other, hybrid projects.
A variety of groups, including the American Council on Renewable Energy, Environment America, Environmental Defense Fund, League of Conservation Voters, National Audubon Society, National Wildlife Federation, Natural Resources Defense Council, Sierra Club and the Union of Concerned Scientists have written to legislators in favor of that change.
“Specifically, we ask that energy storage be considered an eligible technology for the Section 48 and Section 25D 30 percent investment tax credits (ITC),” the organizations wrote in a joint letter. “Currently, energy storage technologies are only eligible for the investment tax credit as part of hybrid projects, under specific and relatively limited circumstances. Clarifying energy storage’s full eligibility for the ITC would accelerate energy storage deployment, improve power system reliability and resilience, and optimize the nation’s renewable energy resources.”
They label the tax credit a shared priority between them, which could greatly accelerate the nation’s transition to renewable energy, and simultaneously cut greenhouse gas emissions and encourage economic growth at the same time. Their thoughts were dispatched to both the House Ways and Means Committee and the Senate Finance committee.
