Inflation Reduction Act Could Supercharge Grid Energy Storage

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The tax credit score that helped push photo voltaic and wind energy to the mainstream is now coming to U.S. power storage.

The Inflation Reduction Act extends to stand-alone power storage a tax credit score that covers 30% of the dimensions of the funding. Beforehand, the tax credit score was restricted to power storage paired with with solar energy, which meant that there was restricted incentive accessible to construct out battery storage techniques for grid providers. Greater than 93% of battery capability that went on-line final yr was co-located with solar, in line with the U.S. Vitality Info Administration.

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