Energy Storage Tax Incentive and Deployment Act of 2019
- Last Action
- 4/11/2019
Actions
- 2019-04-11Read twice and referred to the Committee on Finance.
- 2019-04-11Introduced in Senate
CRS Summary
As of 2019-04-11 (00)
Energy Storage Tax Incentive and Deployment Act of 2019
This bill allows tax credits for (1) energy storage technologies, and (2) battery storage technology.
The bill expands the tax credit for investments in energy property to include equipment that (1) receives, stores, and delivers energy using batteries, compressed air, pumped hydropower, hydrogen storage (including hydrolysis), thermal energy storage, regenerative fuel cells, flywheels, capacitors, superconducting magnets, or other technologies identified by the Internal Revenue Service; and (2) has a capacity of at least five kilowatt hours.
The bill also expands the tax credit for residential energy efficient property to include expenditures for battery storage technology that (1) is installed on or in connection with a dwelling unit located in the United States and used as a residence by the taxpayer, and (2) has a capacity of at least three kilowatt hours.
Cosponsors (14)
- Cory Gardner (R-CO)
- Brian Schatz (D-HI)
- Michael Bennet (D-CO)
- Sheldon Whitehouse (D-RI)
- Mazie Hirono (D-HI)
- Jeff Merkley (D-OR)
- Tina Smith (D-MN)
- John Reed (D-RI)
- Cory Booker (D-NJ)
- Dianne Feinstein (D-CA)
- Maggie Hassan (D-NH)
- Susan Collins (R-ME)
- Chris Van Hollen (D-MD)
- Angus King (I-ME)
Subjects
- Alternative and renewable resources
- Business investment and capital
- Energy efficiency and conservation
- Energy storage, supplies, demand
- Income tax credits
- Residential rehabilitation and home repair
Sourced from Congress.gov (public domain).
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