The following statement is from Matt Roberts, Executive Director of the Energy Storage Association, on congressional approval of the Energy Storage Act of 2016:
“The bipartisan Energy Storage Act of 2016 would unlock competitive access to investment in a more resilient and efficient modern electrical grid by expanding the investment tax credit to include all types of advanced energy storage.
The Investment Tax Credit was originally implemented to strengthen American competitiveness in energy technology innovation and enhance energy security for the entire country. Safe, reliable energy storage systems are at the forefront of innovation and are being deployed by utilities, businesses, and homeowners, driving new economic growth and productivity. In addition, widespread deployment of storage on the grid and in our homes and businesses also leads to greater system reliability and resiliency, and every system installed more effectively balances the constant variations in generation supply and our increasingly dynamic peak demand.
The Energy Storage Act of 2016 ensures that all types of advanced energy storage systems have increased access to investment capital and can be deployed competitively either as a standalone resource or integrated into a microgrid or renewable energy system. We thank Representative Honda, Representative Gibson, Representative Reed, and Representative Takano for their bipartisan leadership in proposing this important legislation. We look forward to working with Members of Congress to expand access to new private investment and competitive markets for energy storage.”
About Energy Storage Association
The Energy Storage Association (ESA) is the trade association for the energy storage industry and the leading voice for companies that develop and deploy the energy storage technologies we rely on every day. ESA's mission is to promote, develop and commercialize competitive and reliable energy storage systems for use by electricity suppliers and their customers. With more than 180 member organizations, ESA members represent a diverse group of entities, including electric utilities, energy service companies, independent power producers, technology developers deploying advanced batteries, flywheels, compressed air energy storage, thermal storage, pumped hydropower, supercapacitors, and component suppliers, such as power conversion systems.
More information is available at: www.energystorage.org