Menu
The Inflation Reduction Act of 2022 committed $369B for clean energy and GHG reduction. That said, it simply extended the 30% tax credits for wind, solar, geothermal, and EV projects for 10 years and increased the tax deductions by 277%. The federal government did finally realize that clean energy absolutely requires energy storage and added energy storage projects to the 30% tax credits. They also want to see these technologies manufactured in the US and if you meet the US content threshold, projects can qualify for a bonus 10% tax credit. The biggest change to these tax credits is that tax-exempt organizations that previously did not qualify can now be paid directly by the IRS. These tax credits can be coupled with utility rebates.
1. Understand the difference between tax credits, tax deductions, and accelerated depreciation and how that impacts tax-paying and tax-exempt organizations.
2. Understand the technologies that qualify for the tax credits and specifically thermal storage systems.
3. Understand the definitions/restrictions on thermal storage systems and how to apply for the incentives.
4. Understand how energy storage will accelerate the adoption of solar and wind projects.
Bruce B. Lindsay, PE, CEM is currently the Business Development Leader for Trane’s Thermal Storage Systems (CALMAC ice tanks) and focuses on the investment tax credits in the US Inflation Reduction Act of 2022. Mr. Lindsay has been involved in thermal storage for over 30 years and was the Executive Director of the Electric Power Research Institute’s Thermal Storage Research Center at the University of Wisconsin-Madison. He was recently the Energy Manager for Brevard County Public Schools (Florida), where he had 84 schools of which 20 had ice storage systems. He is an ASHRAE Distinguished Lecturer and Program Chair for ASHRAE TC6.9 Thermal Storage.
Join Lalit for an individual 1:1 session. Space is limited. Be sure to sign up. M-T-W
Don't Miss Jane Jenkins Herlong! Wednesday morning in Ballroom E/F 9:15 AM - 10:15 AM
As a soldier, writer, and comic, Jody's perspective is both enlightening and entertaining
Chattanooga, TN | October 27-31