LATEST SENATOR KING
WASHINGTON, D.C. – U.S. Senator Angus King (I-Maine), a member of the Senate Energy and Natural Resources Committee, today announced his support for the Energy Storage Tax Incentive and Deployment Act of 2017, bipartisan legislation that would establish an investment tax credit (ITC) for business and home use of energy storage. The proposed tax incentives are modeled on the current ITCs for solar energy and would apply to either large, grid-connected energy storage systems or to smaller battery systems for residential power. Home battery storage, coupled with small wind or roof-top solar system, could be used to store energy during the day for use later in the day or during overcast skies and can help consumers reduce their energy bills.
“Encouraging storage innovation is critical to furthering energy independence and moving our country towards clean, stable energy opportunities,” Senator King said. “This investment tax credit will help make energy storage technologies more affordable for Maine businesses and homes and support a more resilient electric grid.”
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