Solar Power World Quotes Greg Jenner on Future of Tax Credit for Energy Storage

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“The one piece that solar needs to make it a completely viable technology is storage. It’s highly likely that storage technology will naturally catch up at some point but a dedicated incentive could greatly accelerate that process.” —Greg Jenner quoted in Solar Power World
Attorney Greg Jenner was quoted in a Solar Power World article titled “Energy storage ITC may get a second chance.” The article discusses the possibility that a separate tax credit for energy storage, similar to the Investment Tax Credit (ITC) for solar, will be added to the tax code. Previously, storage qualified for the credit only when installed under certain conditions with wind or solar. 

A bill introduced last year didn’t make it out of committee but is likely to be re-introduced this session as The Energy Storage Tax Incentive and Deployment Act. It would allow energy storage installations to qualify for the same ITC as solar energy—for storage systems starting construction through 2019, a credit of 30% of the cost, which would decrease incrementally in following years. 

Jenner stresses that though the bill has bipartisan support, it faces obstacles, especially in light of the uncertainty introduced by the Trump administration plan for a major tax overhaul. “It is possible that existing incentives, such as the solar ITC, could be eliminated or cut back rather than extended,” he said.  “It’s just as possible that they will be left alone or even extended.  It is up to the advocates for solar energy to make their voices heard now, before tax reform moves too far along.” 

Read “Energy storage ITC may get a second chance,” published February 22, 2017.

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