New standalone ITC incentivising US developers to overbuild projects

Read the full story at Energy Storage News.

The new investment tax credit (ITC) for standalone energy storage means some US developers are opting to overbuild instead of augment later, system integrators told

The standalone ITC, brought in as part of the Inflation Reduction Act and effective as of 1 January this year, has meant a significant uptick in developer interest in the US grid-scale energy storage market.

New entrants are coming into a market where existing participants are increasingly having to think about augmenting existing systems as well as deploying new ones, as recently wrote in an interview with EPC firm Burns & McDonnell.

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