US Senators Introduce Energy Storage Bill

U.S. Senators have introduced a Storage Technology for Renewable and Green Energy Act for 2013. This Act, also known as the STORAGE Act, will promote the deployment of energy storage technologies in the U.S. All storage technologies are supported by the bill.

The Act provides a 20% investment tax credit of up to US$40 million per project for storage systems that are connected to the grid and distribution system.The total amount available for these projects is capped at $1.5 billion.

California could be set for an alternative energy Gold Rush with new bill

California legislators are considering a new bill that could mean a major financial boost in alternative energy throughout the state. The bill would allow cities to create “Renewable Energy Zones,” which would not be subject to voter approval. In these zones, alternative energy projects would be funded by property tax revenue. City officials would determine how much of this property tax goes toward alternative energy projects and how much would be used for its original purpose.