Star Peak Energy Transition Corp (STPK)

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Policies & Issues | Federal
Federal Focus: Investment Tax Credit (ITC)
Make energy storage eligible for the stand-alone investment tax credit #StorageITC

About the legislation

The bipartisan Energy Storage Tax Incentive and Deployment Act (S. 627 / H.R. 1648) makes the ITC available for stand-alone energy storage systems. In addition to putting storage on a level playing field with other energy technologies, an ITC will accelerate the growth of jobs and investment in the American energy storage industry, contributing to economic recovery while increasing power system resilience and accelerating decarbonization.

ESA is advocating that Congress make energy storage technologies eligible for the ITC under Internal Revenue Code Sections 48 and 25D. Additionally, since tax equity is likely to remain scarce in the near term, an ITC should allow businesses to reduce reliance on costly and time-consuming tax equity transactions where possible, such as provided for in the GREEN Act (H.R. 848).
Who supports it

This is a common-sense piece of legislation that would put people to work, increase our electric grid’s resilience and help achieve the country’s climate goals. It’s why a broad coalition of groups, citizens and leaders support the legislation.

150+ national trade associations, public interest organizations, and companies >> urge House and Senate leadership to add storage ITC to infrastructure bill
U.S. Senate: Sen. Martin Heinrich (D-N.M.), Sen. Susan Collins (R-Maine)
U.S. House: Rep. Earl Blumenauer (D-Ore.), Rep. Doyle (D-Pa.) and Rep. Vern Buchanan (R-Fla.)
State legislators: California >>, Massachusetts >>
National environmental organizations >>
Faith-based organizations >>

More information on storage ITC legislation:

Read a summary of the Energy Storage Tax Incentive and Deployment Act (S. 627 / H.R. 1684) >>
How energy storage reduces greenhouse gas emissions >>

https://energystorage.org/policies-issues/federal/itc/


Alongside the @storage_ESA
, we urge @SenSchumer
, @RonWyden
, @LeaderMcConnell
, and @MikeCrapo
to pass #S627, the #bipartisan #EnergyStorage Tax Incentive and Deployment Act. The act ensures a level playing field for storage with #StorageITC:

Stem
@stempowered
·
1h
Alongside the @storage_ESA
, we urge @SpeakerPelosi
, @RepRichardNeal
, @GOPLeader
, and @RepKevinBrady
to pass #HR1684, the #bipartisan #EnergyStorage Tax Incentive and Deployment Act. The act ensures a level playing field for storage with #StorageITC: