loading...

. . . . . .

let’s make something together

Give us a call or drop by anytime, we endeavour to answer all enquiries within 24 hours on business days.

Find us

PO Box 16122 Collins Street West
Victoria 8007 Australia

Email us

info@domain.com
example@domain.com

Phone support

Phone: + (066) 0760 0260
+ (057) 0760 0560

Energy Storage and the Inflation Reduction Act

  • By Admin
  • December 16, 2022
  • 101 Views

Did you know that in order to meet our nation’s climate goals we must develop 100 gigawatts (GW) of energy storage by 2030?  That seems highly improbable, since this past year we have tripled our energy storage, but still only have about 4.8 gigawatts of energy storage. The IRA (Inflation Reduction Act) could boost this a bit based on its ITC (Investment Tax Credit). 

This act allows energy storage and interconnection property to be eligible for a 30% ITC. However, there are challenges; some we understand, and some are yet to be realized – production costs, material shortages, supply chain, competition, physical location, and type of energy storage to facilitate (battery, hydro, compressed air, and others).  

Photo Credit: Grist

Leave a Reply

Your email address will not be published.