We greatly appreciate the House of Representatives’ leadership with the inclusion of energy storage in the Moving Forward act with the following three major areas of relief and stimulus:
- Make stand-alone energy storage eligible for investment tax credit (ITC) with the option to elect a “direct payment;”
- Include energy storage technologies explicitly as an investment option for electric vehicle infrastructure; and
- Promote storage technology innovation.
Now more than ever, these common-sense, forward-looking policies with bipartisan and bicameral support are crucial,” said Kelly Speakes-Backman, CEO of the U.S. Energy Storage Association. “The progress the energy storage industry is making to foster resilient, efficient, sustainable and affordable electric service is being threatened by the devastating impacts of COVID-19. Energy storage companies are facing widespread project delays, reduced revenues, and the potential of lost jobs.