A bill to amend the Internal Revenue Code of 1986 to provide tax credits for energy storage technologies, and for other purposes.
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.
Referred to the House Committee on Ways and Means.
Referred to the Subcommittee on Coast Guard and Maritime Transportation.
Referred to the House Committee on Ways and Means.
Introduced in Senate
Read twice and referred to the Committee on Finance.
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