SMACNA, Others Urge Senate Leaders to Support the Energy Storage Tax Incentive and Deployment Act (S. 1142)
In a recent letter to Senate Majority Leader Mitch McConnell (R-KY), Senate Minority Leader Chuck Schumer (D-NY), Senate Finance Committee Chair Chuck Grassley (R-IA), and Senate Finance Committee Ranking Member Senator Ron Wyden (D-OR), SMACNA, along with other organizations, supported including the bipartisan Energy Storage Tax Incentive and Deployment Act (S. 1142) in tax extenders legislation, which would ensure a level playing field for energy storage as a standalone asset to compete with all other energy resources made eligible for Section 48 & 25D investment tax credits (“ITC”).
S. 1142 would resolve the uncertainty facing companies who seek to utilize the ITC for energy storage, spurring greater investment and creating jobs while extending the benefits of energy storage deployment among a wider diversity of technologies and industries. Those deployments in turn will accelerate the transition to clean energy and position the U.S. as a global leader in energy storage technology.
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