The National Electrical Contractors Association praised S. 3159, the Energy Storage Tax Incentive and Deployment Act, a bipartisan bill recently introduced by Sen. Martin Heinrich (D-N.M.) designed to establish investment tax credits (ITCs) for business and home use of energy storage.
The bill is cosponsored by Sens. Dean Heller (R-Nev.), Brian Schatz (D-Hawaii), Al Franken (D-Minn.), Jeff Merkley (D-Ore.), Angus King (I-Maine), Jack Reed (D-R.I.) and Mazie K. Hirono (D-Hawaii).
The proposed tax incentives are modeled on the current ITCs for solar energy and apply to either large, grid-connected energy storage systems or to smaller battery systems for residential power. Home battery storage, coupled with a small wind or roof-top solar system, could be used to store energy during the day for use later in the day or during overcast skies and to help consumers reduce their energy bills.
Marco A. Giamberardino, NECA’s Executive Director of Government Affairs, said energy storage is an important component of the work done on both the utility and customer sides of the service point and it is performed routinely by qualified electrical contractors and electricians nationwide. “Senators Heinrich, Heller, and Schatz’s legislation will go a long way to ensure the tax code will recognize and incentivize energy storage technology for what it is – a critical part of an integrated approach to modernizing the nation’s electric grid,” Giamberardino added. “These additional incentives will help usher a national transformation to a smarter and more reliable power grid. NECA thanks Senator Heinrich for his leadership on this important issue.”
The brief four-page bill is here:
Filed Under: Renewable energy