Renewable energy explained
The federal tax incentives, or credits, for qualifying renewable energy projects and equipment include the Renewable Electricity Production Tax Credit (PTC), the Investment Tax
To date, state-level performance incentives for storage have typically been added to solar incentives. Perhaps the best-known state-level storage incentive in the US is California's Self-Generation Incentive Program (SGIP). SGIP provides a dollar per kilowatt ($/kW) rebate for the energy storage installed.
Along with EIA, the Congressional Research Service (CRS), the Congressional Budget Office (CBO), and the Government Accountability Office (GAO) also issue occasional reports on the scope and nature of federal energy subsidies that mainly or exclusively focus on data. Recent CRS, CBO, and GAO reports include: Congressional Budget Office.
The Department of Energy (DOE) operates the greatest number of efficiency and renewable energy incentive programs, including RDD&D grants and contracts, weatherization assistance, production incentives, loan guarantees, and technology transfers.
In FY 2016, the Internal Revenue Code (IRC)—with its 31 wide-ranging, energy-specific tax provisions— provided greater financial support to energy than direct expenditures, including R&D expenditures (Table A2 and Table A3). Total tax expenditures were 70% of the total federal financial support (Table 1).
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