Energy Storage Tax Credits in the Biden Administration FY 2022 Budget, GREEN Act and Clean Energy for America Act

Mayer Brown - Tax Equity Times
Contact

As the renewable energy sector has grown in recent years, thanks in part to federal income tax credits, researchers and policymakers have begun to focus on the role of energy storage. Because wind and solar are intermittent resources, energy storage is critical to any effort to replace dispatchable, nonrenewable energy sources with wind and solar. In recent years, declines in the cost of energy storage have started to make energy storage a viable investment for renewable energy projects. Moreover, several recent legislative proposals would enact tax credits to support energy storage, including standalone energy storage systems. While tax credits for energy storage were not included in the recent bipartisan infrastructure bill that passed the Senate on August 10, such credits may be included in a subsequent bill passed through budget reconciliation.

Please see full Publication below for more information.

LOADING PDF: If there are any problems, click here to download the file.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Mayer Brown - Tax Equity Times | Attorney Advertising

Written by:

Mayer Brown - Tax Equity Times
Contact
more
less

Mayer Brown - Tax Equity Times on:

Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
Custom Email Digest
- hide
- hide

This website uses cookies to improve user experience, track anonymous site usage, store authorization tokens and permit sharing on social media networks. By continuing to browse this website you accept the use of cookies. Click here to read more about how we use cookies.