As of now, there are no explicit phase-out limits for energy storage incentives based directly on income. However, certain incentives and tax credits, such as the Residential Clean Energy Credit and the Clean Electricity Investment Tax Credits, have specific requirements and limitations that may indirectly affect eligibility or credit amounts.
Residential Clean Energy Credit
- Eligibility and Limits: This credit, available for homeowners installing eligible clean energy property, is 30% of the costs until 2032, then phases down to 26% in 2033 and 22% in 2034. There are no income-based phase-outs for this credit.
- Fuel Cell Limitation: The credit for fuel cell property is capped at $500 per half kilowatt, but this is not based on income.
Clean Electricity Investment Tax Credits
- Eligibility and Bonuses: These credits offer bonuses for projects in energy communities or with domestic content, but they do not phase out based on individual income. Instead, phase-outs are tied to national emissions targets or project-specific requirements like prevailing wages.
- Low-Income Bonuses: There are bonuses for projects benefiting low-income communities, which might indirectly imply income considerations for community-level projects rather than individual income-based phase-outs.
In summary, while there are specific limitations and phase-out periods for energy storage incentives, these are generally based on project characteristics, emissions targets, or specific requirements rather than individual income levels.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/are-there-any-phase-out-limits-for-energy-storage-incentives-based-on-income/
