S 627 117th Congress Senate Taxation Alternative and renewable resources Business investment and capital Energy efficiency and conservation Energy storage, supplies, demand Income tax credits Residential rehabilitation and home repair

Energy Storage Tax Incentive and Deployment Act of 2021

Introduced: March 9, 2021 Introduced by: Heinrich, Martin Democratic · New Mexico See on congress.gov

Everywhere this bill has been 2 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Mar 9, 2021

Read twice and referred to the Committee on Finance.

Mar 9, 2021

Introduced in Senate

Plain-English summary Congressional Research Service

Energy Storage Tax Incentive and Deployment Act of 2021

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 electrolysis), 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.

What's happening now March 9, 2021

Read twice and referred to the Committee on Finance.

Committees of jurisdiction 1