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  • Energy GuyEnergy Guy
    Keymaster
    July 13, 2016 at 12:17 pm
    Post count: 9
    #1965 |

    Things are moving in the right direction. US Senator Martin Heinrich (D-N.M.) has co-sponsored the Energy Storage Tax Incentive and Deployment Act. It would provide tax credits for home use of energy storage batteries. Since the Act was developed to be similar to tax credits currently available for solar and wind installations, it would likely provide around 30 percent off the price of batteries.

    It is estimated that the cost of energy storage is still around 3 times the cost required for it to take off commercially. So we still have a lot of price cuts ahead before battery storage is common in our homes. Since this credit also applies to businesses, we can hope that businesses will jump on the energy storage wagon and increase demand to quickly bring costs down.

    Senator Heinrich’s Act is a great start!

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