in News Departments > Policy Watch
print the content item

U.S. Sens. Ron Wyden, D-Ore.; Susan Collins, R-Maine; Jeff Merkley, D-Ore.; and Angus King, I-Maine, have introduced the Storage Technology for Renewable and Green Energy Act of 2013 (STORAGE) to encourage the development of renewable energy as a source of electricity and lower consumer costs through the deployment of energy storage technologies.

"Building out more energy storage will increase the amount of renewable power on the grid, reduce our country’s need for new power plants and make the U.S. energy system more reliable," Wyden says. "These systems don’t make energy - they make energy better. With all of the attention given to new sources of power, it’s only appropriate that energy storage gets its time in the sun."

Wyden and Collins introduced a previous version of the bill in the last Congress. As in the 2011 version of the bill, the STORAGE Act of 2013 (S.1030) offers a 30% investment tax credit to businesses for the use of technologies that can store energy during non-peak hours and distribute it to meet peak electricity demand.

According to the senators, the latest version of the bill lowers the qualifying threshold to encourage small businesses to take advantage of on-site storage technologies. The bill also provides a 30% tax credit to homeowners who install energy storage on their property to help serve their own energy needs or capture energy from on-site renewable energy generation.

Finally, the STORAGE Act provides a 20% investment tax credit of up to $40 million per project for grid-scale storage systems. The total amount available for these projects is capped at $1.5 billion.


Trachte Inc._id1770
Latest Top Stories

Senate Passes Tax Extenders Bill With Wind PTC Extension

The legislation, which passed in the U.S. House earlier this month, will renew the critical production tax credit through the end of 2014 - giving developers only about two weeks left to start construction.


Transmission Study Shows Nebraska Could Handle A Lot More Wind Power

A new report released by the Nebraska Power Review Board finds that the state already has enough infrastructure to accommodate at least 2 GW of additional wind generation.


Can Wind Energy And Birds Coexist? Environmental Group Says Yes

The Environmental Defense Fund, a supporter of responsible wind energy development, points out ways to help mitigate impacts of turbines on birds and bats.


Another Study Finds Wind Turbines Do Not Affect Nearby Property Values

Research conducted by the University of Guelph focused on regions in Ontario, and the conclusion echoes that of previous studies.


Too Little, Too Late? U.S. House Approves Wind PTC Extension

The U.S. House of Representatives has passed a tax extenders package that would renew the wind production tax credit (PTC) and about 50 other expired tax breaks through 2014. The wind industry argues the short-term fix is virtually no fix at all.

Hybrid Energy Innovations 2015