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Tax Credits for Energy Storage Systems for Businesses and Homes

This bill introduces new tax credits to encourage the installation of energy storage systems, such as batteries. Businesses can receive credits for larger systems, and homeowners for battery installations at their residences. This aims to lower the cost of investing in energy storage.
Key points
New tax credits are available for businesses installing various energy storage technologies (5 kWh or more capacity).
Homeowners can get a tax credit for installing battery storage systems (3 kWh or more capacity) at their residence.
These credits apply retroactively to systems placed in service or costs incurred from late 2020.
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Additional Information
Print number: 117_HR_1684
Sponsor: Rep. Doyle, Michael F. [D-PA-18]
Process start date: 2021-03-09