Tax Credits for Energy Storage System in US !!

For six consecutive years at a stretch, solar has been one of the top two sources of generating electricity in the U.S. During the first week of April this year, the democratic nation witnessed a new strategy to add energy storage system in the list of technologies eligible for the federal Investment Tax Credit (ITC). Introduced by Mike Doyle, its goal is to extend the same 30 percent ITC offered to solar PV systems to batteries and other electric storage systems in the commercial, residential and utility-scale energy storage sectors. The federal solar tax credit, also known as the investment tax credit (ITC) is one of the best financial incentives for solar in the US, allowing consumer to deduct 30% from the entire cost of a solar energy system, from their federal taxes. According to the SEIA 2019 reports, 2018 has bounced back with a residential market growth of 7%, wherein the non residential solar installations saw an annual decline of 8%. The federal tax credit can also...