The buzz around the U.S. energy storage market is making its way to the halls of state legislatures. So far in 2015, a total of 92 bills relating to energy storage have been introduced in 28 U.S. states. Of that total, 10 bills have been enacted in eight U.S. states. Eleven bills are still pending, and 47 could be carried over into 2016. The majority of the 92 bills pertain to tax credits, energy planning, or renewable portfolio standards/energy-efficiency resource standards policies, while others relate to grid modernization, property taxes, and other incentives or storage mandates.
One New Jersey bill (S. 2016) that made it to the finish line appropriates $20.2 million to the state's Board of Public Utilities to support renewables, energy efficiency and energy storage projects, prioritized based on job creation, emissions reductions, energy savings or generation, and support for innovative technology. Legislation enacted by the state of Washington (H.B. 1897) created a joint center for deployment and research in earth-abundant materials, which includes the deployment of renewable energy systems and battery storage.
The legislative parade is very likely to continue in 2016. Indeed, a suite of pre-filed 2016 bills pertaining to storage has already been introduced in Florida.
Source: EQ Research
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