Environmental, Conservation and Clean Energy Coalition Urges Congress to Enact Energy Storage Investment Tax Credit
Washington, D.C.: Continuing a steady drumbeat in support of an energy storage investment tax credit (ITC), nine organizations spanning the environmental, conservation and clean energy communities today sent a letter to the House Ways and Means and Senate Finance Committees urging enactment of an energy storage investment tax credit (ITC) as part of any “extenders package” considered this year.
In the letter, the organizations called the tax credit “a shared priority,” explaining that it provides “a uniquely near-term and impactful way to accelerate the transition to renewable energy, spur economic growth, and reduce greenhouse gas emissions.”
The signing organizations include:
- American Council on Renewable Energy
- Environment America
- Environmental Defense Fund
- League of Conservation Voters
- National Audubon Society
- National Wildlife Federation
- Natural Resources Defense Council
- Sierra Club
- Union of Concerned Scientists
Background: Earlier this month, legislation was introduced in both the U.S. House and Senate (H.R. 2096/S.1142) that would modify Section 48 and Section 25D investment tax credits to clarify that energy storage technologies are eligible for the credit. Currently, energy storage technologies are only eligible for the investment tax credit as part of hybrid projects, under a specific and relatively limited set of circumstances.
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About ACORE
Founded in 2001, the American Council on Renewable Energy (ACORE) is the nation’s premier pan-renewable organization uniting finance, policy and technology to accelerate the transition to a renewable energy economy. For more information, please visit www.acore.org.
Source: acore.org
