Californian investor-owned utility (IOU) San Diego Gas & Electric (SDG&E) is seeking tax credits under the Inflation Reduction Act (IRA) for its upcoming energy storage projects, which it said would enable it to reduce electricity rates for its customers.

Presenting the most-read news stories on Energy-Storage.news for the first half of 2023, including policy, technology and market developments shaping the industry.

New transferability and direct pay provisions for clean energy tax credits are a “game changer for renewable energy development” in the US, Shearman & Sterling partner Mona Dajani told Energy-Storage.news.

Ormat Technologies has signed a PPA for a California solar-plus-storage plant, shortly after announcing the start of commercial operations at two standalone battery projects.

Cost disclosure requirements needed in order to qualify for IRA’s investment tax credit (ITC) domestic content adder could prove problematic for ESS providers, sources told Energy-Storage.news.

Two 5MW/10MWh battery storage units have entered commercial operation in Vermont, US, owned by Strata Clean Energy, deployed by LS Energy Solutions, and financed using the new investment tax credit (ITC).

The US Internal Revenue Service (IRS) has revealed how smaller and tax-exempt organisations can take advantage of clean energy investment tax credits (ITC), with guidance on direct pay and transferability.

Eolian has taken the amount of financing it has raised in just three years since founding to more than a billion-and-a-half-dollars.

BESS projects in the US need to be 40% US-made to qualify for the ITC domestic content adder, rising to 55% from 2027 onwards, the IRS has said.

Clean energy trade bodies ACP, ACORE and SEIA have denounced an attempt by Republicans to roll back the Act, which has spurred unprecedented investment in the US market.