The U.S. Energy Storage Association (ESA) applauded the U.S. Senate Finance Committee for including the energy storage investment tax credit in its markup this week.
“We cannot rely on yesterday’s infrastructure to deal with tomorrow’s climate. An ITC for storage is critical to achieve our country’s decarbonization goals and enable communities to be resilient to increasing disruptions from extreme weather. Modernizing our electric infrastructure with energy storage also spurs clean energy job growth across the country,” U.S. Energy Storage Association Interim CEO Jason Burwen said.
It is part of the Clean Energy for America Act, introduced by Senate Finance Committee Chair Sen. Ron Wyden (D-OR). President Joe Biden’s American Jobs Plan called for the ITC for energy storage, while the Made in America Tax Plan by the Treasury Department also included the ITC for storage. Further, more than 150 organizations sent a letter to U.S. House and Senate leaders requesting they include bipartisan legislation to make standalone storage projects eligible for the ITC in the upcoming infrastructure bill.
“We thank Chairman Wyden for advancing clean energy tax legislation through the committee with a storage ITC included, and ESA looks forward to working with Senate and House committees to ensure that additional incentives for sourcing from U.S. manufacturers and for siting projects in disadvantaged communities are crafted effectively,” Burwen said. “We urge Members of Congress in both chambers to ensure the storage ITC and related clean energy infrastructure investments are enacted into law this year. We have no time to lose in tackling the climate crisis with investments of unprecedented scale in resilient, clean energy infrastructure, including energy storage.”