A new bipartisan effort to introduce a 30% Tax Credit (just like Solar Power) for energy storage
On May 26, 2016 – “U.S. Rep. Mike Honda (D-Silicon Valley, Calif.) introduced H.R. 5350, the bipartisan Energy Storage for Grid Resilience and Modernization Act. Honda was joined by Reps. Chris Gibson (R-NY), Tom Reed (R-NY) and Mark Takano (D-CA).” The purpose of the legislation is to clarify that energy storage industry receives a 30% tax credit equivalent in nature to what the Renewable Energy industry gets. The 30% Solar Power Tax Credit, is credited with being one of the major drivers for the solar power installation boom in the United States.