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Energy Coalition Urges Support for Energy Storage Property Tax Credit Bills

JUL. 2, 2013

Energy Coalition Urges Support for Energy Storage Property Tax Credit Bills

DATED JUL. 2, 2013
DOCUMENT ATTRIBUTES
  • Institutional Authors
    1Energy System
    A&D Technology, Inc.
    A123 Energy Solutions
    ABB
    AES Energy Storage
    Alstom, Inc.
    Andritz Hydro Corporation
    Applied Materials, Inc.
    Aquion Energy
    ATC New Technologies, Oklahoma City
    Beacon Power
    CALMAC IceBank Energy Storage
    Christenson Electric
    CODA Energy
    Duke Energy
    East Penn Manufacturing
    EnerDel, Inc.
    FIAMM Energy Storage Solutions
    GrafTech International
    HDR Engineering, Inc.
    Hydro Performance Processes, Inc.
    Mead & Hunt, Inc.
    MEGTEC Systems, Inc.
    MWH Americas, Inc.
    NextEra Energy Resources
    Panasonic Corporation of North America
    PDE Total Energy Solutions
    S&C Electric
    Solar City
    Steffes Corporation
    Townsend Advanced Energy
    Townsend Capital
    Xtreme Power
    Electricity Storage Association
    California Energy Storage Alliance
    Copper Development Association
    National Alliance for Advanced Technology Batteries (NAATBatt)
    National Hydropower Association
    National Electrical Contractors Association (NECA)
    National Electrical Manufacturers Association (NEMA)
    New York Battery and Energy Storage Technology Consortium (NY-BEST)
    Solar Energy Industries Association
    Texas Energy Storage Alliance
  • Cross-Reference
    H.R. 1465 2013 TNT 81-19: Proposed Legislation.

    S. 1030 2013 TNT 120-23: Proposed Legislation.
  • Code Sections
  • Subject Area/Tax Topics
  • Jurisdictions
  • Language
    English
  • Tax Analysts Document Number
    Doc 2013-16428
  • Tax Analysts Electronic Citation
    2013 TNT 131-47

 

July 2, 2013

 

 

United States House of Representatives

 

Washington, DC 20515

 

RE: STORAGE Act, H.R. 1465

 

Dear Representative:

We, the undersigned associations and companies, strongly support the STORAGE Act (H.R. 1465) that would create an investment tax credit (ITC) that would create an investment tax credit (ITC) and clean renewable energy bonds (CREBS) eligibility for energy storage technologies of all types and help level the playing field for an industry that has enormous potential to increase the reliability, security, and efficiency of the nation's electric grid.

Energy storage technologies help all resources -- whether renewable or traditional -- run more smoothly. These applications are now operating on the grid and have proven to be of enormous benefit; these incentives will help developers to truly grow this industry and meet the changing demands of our electric grid.

This bill is bipartisan and limited in size and scope yet has the potential to open up the market for innovators here in the U.S. While other energy industries have longstanding tax incentives that have secured interest from investors, energy storage has yet to benefit directly from the tax code. We believe that these incentives will level the playing field while driving investment in the energy storage industry for the betterment of our nation.

We urge you to support grid modernization and energy security by cosponsoring this bill and indicating your support to the Committee on Ways and Means as they consider comprehensive tax reform.

Thank you for your consideration.

Companies:

1Energy System

 

A&D Technology, Inc.

 

A123 Energy Solutions

 

ABB

 

AES Energy Storage

 

Alstom, Inc.

 

Andritz Hydro Corporation

 

Applied Materials, Inc.

 

Aquion Energy

 

ATC New Technologies, Oklahoma City

 

Beacon Power

 

CALMAC IceBank Energy Storage

 

Christenson Electric

 

CODA Energy

 

Duke Energy

 

East Penn Manufacturing

 

EnerDel, Inc.

 

FIAMM Energy Storage Solutions

 

GrafTech International

 

HDR Engineering, Inc.

 

Hydro Performance Processes, Inc.

 

Mead & Hunt, Inc.

 

MEGTEC Systems, Inc.

 

MWH Americas, Inc.

 

NextEra Energy Resources

 

Panasonic Corporation of North America

 

PDE Total Energy Solutions

 

S&C Electric

 

Solar City

 

Steffes Corporation

 

Townsend Advanced Energy

 

Townsend Capital

 

Xtreme Power

 

 

Associations:

Electricity Storage Association

 

California Energy Storage Alliance

 

Copper Development Association

 

National Alliance for Advanced Technology Batteries (NAATBatt)

 

National Hydropower Association

 

National Electrical Contractors Association (NECA)

 

National Electrical Manufacturers Association (NEMA)

 

New York Battery and Energy Storage Technology Consortium (NY-BEST)

 

Solar Energy Industries Association

 

Texas Energy Storage Alliance

 

* * * * *

 

 

July 2, 2013

 

 

United States Senate

 

Washington, DC 20510

 

RE: STORAGE Act, S. 1030

 

Dear Senator:

We, the undersigned associations and companies, strongly support the STORAGE Act (S. 1030) that would create an investment tax credit (ITC) and clean renewable energy bonds (CREBS) eligibility for energy storage technologies of all types and help level the playing field for an industry that has enormous potential to increase the reliability, security, and efficiency of the nation's electric grid.

Energy storage technologies help all resources -- whether renewable or traditional -- run more smoothly. These applications are now operating on the grid and have proven to be of enormous benefit; these incentives will help developers to truly grow this industry and meet the changing demands of our electric grid.

This bill is bipartisan and limited in size and scope yet has the potential to open up the market for innovators here in the U.S. While other energy industries have longstanding tax incentives that have secured interest from investors, energy storage has yet to benefit directly from the tax code. We believe that these incentives will level the playing field while driving investment in the energy storage industry for the betterment of our nation.

We urge you to support grid modernization and energy security by cosponsoring this bill and indicating your support to the Committee on Finance as they consider comprehensive tax reform.

Thank you for your consideration.

Companies:

1Energy Systems

 

A&D Technology, Inc.

 

A123 Energy Solutions

 

ABB

 

AES Energy Storage

 

Alstom, Inc.

 

Andritz Hydro Corporation

 

Applied Materials, Inc.

 

Aquion Energy

 

ATC New Technologies, Oklahoma City

 

Beacon Power

 

CALMAC IceBank Energy Storage

 

Christenson Electric

 

CODA Energy

 

Duke Energy

 

East Penn Manufacturing

 

EnerDel, Inc.

 

FIAMM Energy Storage Solutions

 

GrafTech International

 

HDR Engineering, Inc.

 

Hydro Performance Processes, Inc.

 

Mead & Hunt, Inc.

 

MEGTEC Systems, Inc.

 

MWH Americas, Inc.

 

NextEra Energy Resources

 

Panasonic Corporation of North America

 

PDE Total Energy Solutions

 

S&C Electric

 

Solar City

 

Steffes Corporation

 

Townsend Advanced Energy

 

Townsend Capital

 

Xtreme Power

 

 

Associations:

Electricity Storage Association

 

California Energy Storage Alliance

 

Copper Development Association

 

National Alliance of Advanced Technology Batteries (NAATBatt)

 

National Hydropower Association

 

National Electrical Contractors Association (NECA)

 

National Electrical Manufacturers Association (NEMA)

 

New York Battery and Energy Storage Technology Consortium (NY-BEST)

 

Solar Energy Industries Association

 

Texas Energy Storage Alliance
DOCUMENT ATTRIBUTES
  • Institutional Authors
    1Energy System
    A&D Technology, Inc.
    A123 Energy Solutions
    ABB
    AES Energy Storage
    Alstom, Inc.
    Andritz Hydro Corporation
    Applied Materials, Inc.
    Aquion Energy
    ATC New Technologies, Oklahoma City
    Beacon Power
    CALMAC IceBank Energy Storage
    Christenson Electric
    CODA Energy
    Duke Energy
    East Penn Manufacturing
    EnerDel, Inc.
    FIAMM Energy Storage Solutions
    GrafTech International
    HDR Engineering, Inc.
    Hydro Performance Processes, Inc.
    Mead & Hunt, Inc.
    MEGTEC Systems, Inc.
    MWH Americas, Inc.
    NextEra Energy Resources
    Panasonic Corporation of North America
    PDE Total Energy Solutions
    S&C Electric
    Solar City
    Steffes Corporation
    Townsend Advanced Energy
    Townsend Capital
    Xtreme Power
    Electricity Storage Association
    California Energy Storage Alliance
    Copper Development Association
    National Alliance for Advanced Technology Batteries (NAATBatt)
    National Hydropower Association
    National Electrical Contractors Association (NECA)
    National Electrical Manufacturers Association (NEMA)
    New York Battery and Energy Storage Technology Consortium (NY-BEST)
    Solar Energy Industries Association
    Texas Energy Storage Alliance
  • Cross-Reference
    H.R. 1465 2013 TNT 81-19: Proposed Legislation.

    S. 1030 2013 TNT 120-23: Proposed Legislation.
  • Code Sections
  • Subject Area/Tax Topics
  • Jurisdictions
  • Language
    English
  • Tax Analysts Document Number
    Doc 2013-16428
  • Tax Analysts Electronic Citation
    2013 TNT 131-47
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