S.1091 - STORAGE Act of 2009

A bill to amend the Internal Revenue Code of 1986 to provide for an energy investment credit for energy storage property connected to the grid, and for other purposes. view all titles (3)

All Bill Titles

  • Official: A bill to amend the Internal Revenue Code of 1986 to provide for an energy investment credit for energy storage property connected to the grid, and for other purposes. as introduced.
  • Short: STORAGE Act of 2009 as introduced.
  • Short: Storage Technology of Renewable and Green Energy Act of 2009 as introduced.

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05/20/09
 
 
 
 
 
 
 

Official Summary

Storage Technology of Renewable and Green Energy Act of 2009 or the STORAGE Act of 2009 - Amends the Internal Revenue Code to: (1) allow a 20% energy tax credit for investment in energy storage property directly connected to the electrical grid (i.e., state systems of generators, transmissi

Official Summary

Storage Technology of Renewable and Green Energy Act of 2009 or the STORAGE Act of 2009 - Amends the Internal Revenue Code to:
(1) allow a 20% energy tax credit for investment in energy storage property directly connected to the electrical grid (i.e., state systems of generators, transmission lines, and distribution facilities) and designed to receive, store, and convert energy to electricity and deliver such electricity for sale;
(2) make such property eligible for new clean renewable energy bond financing;
(3) allow a 30% energy tax credit for investment in energy storage property used at the site of energy storage; and
(4) allow a 30% nonbusiness energy property tax credit for the installation of energy storage equipment in a principal residence.

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