Sen. Ron Wyden, D-Ore.; John Norris, a commissioner with the Federal Energy Regulatory Commission; and various energy-storage companies joined the Electricity Storage Association (ESA) at a Capitol Hill briefing to advocate for public policies that help spur energy-storage innovation.
The briefing was held to garner support for and raise awareness of federal legislation recently introduced by Wyden, and Sens. Jeff Bingaman, D-N.M., and Susan Collins, R-Maine. The STORAGE Act of 2011 is an investment tax credit (ITC) for energy-storage projects.
Wyden discussed with attendees details of the bill and his rationale for introducing a tax credit for energy storage. A panel of key stakeholder groups involved in energy storage affirmed the importance of smart policy to incentivize energy-storage deployment.
‘Increasing investments in storage technology will make renewable energy more effective while creating a more efficient electric grid that doesn't pick technology winners and losers,’ Wyden said. ‘Whether it's a billion-dollar pumped-hydroelectric-storage project or a smart grid water heater in your basement, our bill provides a real incentive to get that technology connected to the electric grid sooner rather than later.’
Norris discussed how the agency can move the commercial market for innovation by ensuring that those technologies are able to receive compensation that reflects the benefits they provide to the electric grid and consumers.
‘I strongly believe that energy storage holds great promise to help make our electricity more reliable and to facilitate the achievement of important state and federal policy objectives, which include increased use of renewable energy resources and greater energy independence,’ he said.
In addition to the ITC, legislative priorities for the ESA include the establishment of the Clean Energy Deployment Administration, research and development, and clean energy standards.
