July 1, 2020

Statement from ESA CEO Kelly Speakes-Backman on the Moving Forward Act

“Today, a historic event occurred as the Moving Forward Act passed the U.S. House of Representatives, with the first-ever provision for a stand-alone storage investment tax credit (ITC),” said U.S. Energy Storage Association CEO Kelly Speakes-Backman. “Thanks to the tireless efforts of our members, allies, and team, who worked with Congressional members and staff to prioritize a storage ITC. The storage ITC continues to earn bipartisan and bicameral support, which ESA strongly endorses for passage as part of the Moving Forward Act. Storage eligibility for the ITC as referenced in the Moving Forward Act will offset reductions and delays in market deployments in both the near- and medium-term due to COVID-19, helping to protect the expanding numbers of Americans employed in energy storage. In addition, making energy storage technologies eligible for the ITC with the option to elect direct payment could allow regulated utilities to opt-out from normalization of a direct payment election, and is critical for companies to monetize credits quickly. We greatly appreciate the House of Representatives’ leadership in carrying the storage ITC forward, and encourage Congress to continue that forward momentum to pass the storage ITC in both chambers. ESA looks forward to working with Congress to support economic recovery through continued energy storage deployment, industry investments, and enabling a more resilient grid.”

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