Energy Storage Tax Credits in the Biden Administration FY 2022 Budget, GREEN Act and Clean Energy for America Act

Several recent legislative proposals would expand or enact tax credits to support energy storage, including standalone energy storage systems. This Legal Update compares three primary proposals under discussion in Washington that could materially shape these federal income tax credits: the Biden Administration FY 2022 Budget, the Growing Renewable Energy and Efficiency Now Act of 2021 (GREEN Act) and the Clean Energy for America Act (introduced by the chairman of the Senate Finance Committee).