Energy storage gets a boost from the Inflation Reduction Act
The $369 billion earmarked for clean energy and climate change mitigation initiatives in the Inflation Reduction Act mark unprecedented support from the US Federal Government for the transition to sustainable energy.
For the energy storage industry, it is transformational because for the first time it introduces an investment tax credit (ITC) for standalone energy storage, whilst up until now developers would pursue a disproportionately high percentage of solar-plus-storage hybrid projects. What is more, ITCs have been extended to 10 years, eliminating a lot of the cyclical uncertainty that 2-year ITC extensions had before.
In this webinar we analyze what the IRA means for the energy storage industry along its whole supply chain, and how business models can be adjusted to optimize this incredible opportunity.
- Examine closely how the IRA affects the finances of your current project and your pipeline, to maximize the new business opportunities that have emerged – especially due to the removal of the uncertainty of the ITC cycles with a 10-year extension
- Consider how the market for energy storage in the US has expanded from a handful of states to the whole territory, and what that means in terms of opportunities for aggressive growth
- Hear how the IRA presents new opportunities for supply chain diversification and localization, setting the basis to resolve one of the hardest challenges for the industry today
