Energy Storage Association Seeks Clarity on Eligibility of Energy Storage for Investment Tax Credit
The Energy Storage Association (ESA) recently issued a statement thanking U.S. Sens. Tim Scott (R-SC) and Michael Bennet (D-CO) for their efforts to obtain clarification on the eligibility of energy storage for the Investment Tax Credit (ITC). The Investment Tax Credit is currently a 30 percent federal tax credit claimed against the tax liability of residential and commercial and utility investors in solar energy property. The senators sent a letter on Sept. 20 to Treasury Secretary Steven Mnuchin seeking clarification on the eligibility of energy storage technologies under Internal Revenue Code Section 48 when energy storage is added to an existing ITC-eligible technology. The senators requested that the clarification be included in the IRS’ 2018-2019 Priority Guidance Plan.