WASHINGTON, March 9, 2021 – Citizens for Responsible Energy Solutions (CRES) today applauded the leadership of Senators Susan Collins (R-ME) and Martin Heinrich (D-NM) and Representatives Vern Buchanan (R-FL) and Mike Doyle (D-PA) for introducing legislation that will modify the existing investment tax credits (ITC) to include “game-changing” energy storage technology.
“Expanding investment tax credits (ITC) for energy storage is a pro-growth, no-brainer policy that will support any power generation connected to the grid—wind, solar, hydro, nuclear, gas, coal—to become more efficient, productive and competitive,” said Heather Reams, executive director of CRES. “Federal tax incentives will spur significant private sector investments in energy storage, putting the full power of American innovation towards building our next-generation energy infrastructure for the future.
“I applaud our leaders in both the U.S. House and Senate for working to give businesses and homeowners the ability to invest in game-changing energy storage solutions in a cost-effective manner,” Reams continued. “Resilient, reliable energy storage is critical to building a clean energy economy and will create good-paying American jobs. I urge members of Congress to join their colleagues and support ITC to drive major investments in energy storage.”
The Energy Storage Tax Incentive and Deployment Act will provide both commercial entities and homeowners with a 26 percent investment tax credit. Currently, there is no separate ITC available for energy storage systems.
Citizens for Responsible Energy Solutions (CRES) engages Republican policymakers and the public about responsible, conservative solutions to address our nation’s energy, economic, and environmental security while increasing America’s competitive edge.