Showing posts with label Energy Storage Tax Credit. Show all posts
Showing posts with label Energy Storage Tax Credit. Show all posts

December 27, 2017

House Bill Seeks New Energy Storage Tax Credit

U.S. Reps. Ryan Costello (R-Penn.) and Mike Doyle (D-Penn.) last week introduced a House bill that would create a new investment tax credit for energy storage.

“Supporting and encouraging the use of innovative energy technologies can help lower energy costs and improve grid resiliency,” Costello said in a statement. “When paired with recent advancements in clean and renewable energy choices, energy storage can strengthen the security of our electric grid, offer consumers greater choice, and lower the cost of energy bills.”

April 27, 2017

Maryland’s Energy Storage Tax Credit: Gaining Momentum Across America?

The General Assembly of Maryland just passed a bill that would provide a 30 percent tax credit to those who chose to utilize energy storage technology, making it the first state in the country to pass such legislation. The funds provided by the bill would last from 2018 to 2022.

The bill includes a cap of $5,000 for residential storage projects, while for commercial projects, the cap is set at $75,000. The state government has allocated a total of $750,000 per year to be used in credits.