Sec. 124. Deployment of energy storage through tax credits
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Subclause
(II)of section 48(a)(2)(A)(i) of the Internal Revenue Code of 1986 is amended by striking paragraph (3)(A)(i) and inserting clause
(i)or
(ix)of paragraph (3)(A) . Subparagraph
(A)of section 48(a)(3) of the Internal Revenue Code of 1986, as amended by section 121, is amended by striking or at the end of clause (vii), by adding or at the end of clause (viii), and by adding at the end the following new clause: equipment which receives, stores, and delivers energy using batteries, compressed air, pumped hydropower, hydrogen storage (including hydrolysis), thermal energy storage, regenerative fuel cells, flywheels, capacitors, superconducting magnets, or other technologies identified by the Secretary in consultation with the Secretary of Energy, and which has a capacity of not less than 5 kilowatt hours, . Paragraph
(6)of section 48(a) of the Internal Revenue Code of 1986 is amended— by striking in the heading and inserting energy ; and and energy storage by striking paragraph (3)(A)(i) both places it appears and inserting clause
(i)or
(ix)of paragraph (3)(A) . The amendments made by this subsection shall apply to property placed in service after December 31, 2019. Subsection
(a)of section 25D of the Internal Revenue Code of 1986 is amended by striking and at the end of paragraph (4), by inserting and after the comma at the end of paragraph (5), and by inserting after paragraph
(5)the following new paragraph: the qualified battery storage technology expenditures, . Subsection
(d)of section 25D of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph: The term qualified battery storage technology expenditure means an expenditure for battery storage technology which— is installed on or in connection with a dwelling unit located in the United States and used as a residence by the taxpayer, and has a capacity of not less than 3 kilowatt hours. . The amendments made by this subsection shall apply to expenditures paid or incurred in taxable years beginning after December 31, 2018.