Energy Storage Would Get U.S. Tax Credits in Bipartisan Bill
- Proposed investment tax credit modeled on solar incentives
- Bill co-sponsored by Democrat Heinrich and Republican Heller
A vehicle charger stands in the lobby at the Tesla Motors Inc. Gigafactory in McCarran, Nevada, on April 25, 2016.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
Energy storage would gain access to the same tax incentives that helped make renewable energy the biggest new source of electricity in the U.S. last year under a bill introduced in the Senate.
Batteries like the lithium-ion ones in phones and electric vehicles would be eligible for the tax incentives when connected to the utility grid at homes and businesses under a bill introduced Tuesday by Democratic Senator Martin Heinrich from New Mexico. The bill has eight co-sponsors including Dean Heller, a Nevada Republican, according to a statement.