States across the U.S. are offering various incentives to encourage the deployment of energy storage technologies. Here are some key programs:
State Incentives
- California:
- Self-Generation Incentive Program (SGIP): Provides substantial financial incentives, including upfront rebates and performance-based payments, with higher incentives for areas prone to wildfires. It has allocated $450 million for behind-the-meter storage.
- New York:
- Market Acceleration Bridge Incentive Program: Offers upfront incentives, with businesses in New York City receiving up to $100 per kWh and others up to $350 per kWh.
- Long Island Energy Storage Incentive: Provides a $250 per kilowatt rebate for battery storage, though only about 4% of funds remain as of 2025.
- Connecticut:
- Energy Storage Solutions: Offers up to $16,000 for residential customers and 50% savings for businesses.
- Massachusetts:
- Mass Save Connected Solutions: Includes financial incentives and financing solutions to reduce battery installation costs and support grid stability.
- Maryland:
- Offers a state income tax credit up to $5,000 for residential and $75,000 for commercial and industrial customers.
- New Jersey:
- Has proposed the New Jersey Storage Incentive Program, which includes fixed upfront payments for front-of-meter storage and performance incentives for behind-the-meter storage.
Federal Incentives
- Federal Investment Tax Credit (ITC): Offers a 30% tax credit for the cost of energy storage systems.
- Clean Electricity Investment Credit (CEIC): Replaces the ITC for certain projects in 2025, offering a credit of up to 50% of the project cost for meeting specific criteria such as using U.S.-based materials or being located in energy communities.
States often combine these incentives with low-cost financing options and performance-based payments to enhance the adoption of energy storage technologies, particularly in high-risk areas or low-income communities.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/what-incentives-are-states-offering-to-encourage-the-deployment-of-energy-storage-technologies/
