Us President Joe Biden has reportedly unveiled a plan to invest $2 trillion in infrastructure, which has been praised by the energy storage industry for giving priority to energy storage deployment and policies to support the growth of the energy storage industry.
Joe Biden and Vice President Camara Harris jointly released the "American Jobs Plan" as part of the "rebuild better" agenda. Biden called this strategy a "renewed and upgraded social contract" to promote economic recovery after the epidemic. Su did not overcome the structural weaknesses and inequalities of the "old economy".
Its investment is equivalent to 1% of US GDP in 2020, and the plan is described in US government newsletters as "primarily an one-off capital investment in US productivity and long-term growth." One of the main payment mechanisms proposed by the US government is to raise the corporate tax rate to 28 per cent.
A statement issued by the US government said: "the US jobs plan is an investment in US infrastructure that will create millions of jobs, rebuild vital infrastructure, and make the United States stand out from the global competition."
While this wide-ranging plan focuses on areas such as transport, clean drinking water, construction, housing and manufacturing, many of which will have a positive and direct impact on decarbonization, but it also includes a series of important regulations directly related to the clean energy industry.
As reported in the industry media, the bill will extend the investment tax credit (ITC) and production tax credit (PTC) for another 10 years, which is currently applicable to clean power generation technology and expands its scope to include energy storage systems. At present, if investment tax credit (ITC), is deployed in new solar power generation facilities, it can be applied to solar power generation facilities and supporting deployed energy storage systems. Since 2016, some US lawmakers from both parties have worked together to enable energy storage systems to receive investment tax credits. The most recent move by the (ITC), is to pass the Energy Storage system tax incentive and deployment Act proposed by some US lawmakers from both parties at the beginning of this year. The infrastructure jobs plan will also invest about $100 billion to build long-distance transmission lines to harness solar and wind energy and to make Electroweb more resilient.
Jason Burwen, interim CEO of the American Energy Storage Association, said a few days ago that to achieve this goal, the United States will be required to deploy energy storage systems on an unprecedented scale.
"the infrastructure jobs plan released by President Joe Biden will take us down this path," Burwen said. We stand ready to work with the federal government, Congress, and state leaders to better rebuild through the deployment of energy storage systems. "
Burwen said the US energy storage system appreciates the US government's policy of giving priority to energy storage deployment and supporting the growth of the energy industry in the infrastructure employment plan.
"the most important of these priorities is the investment tax credit (ITC), for energy storage systems, which will balance with other clean energy technologies and accelerate the deployment of energy storage systems to achieve the goal of a carbon-free power system by 2035," he said.
Burwen also praised other "important parts" of the program, such as targeted funding for the construction or renovation of battery production plants, which would improve battery manufacturing capacity in the United States and establish a reliable and independent battery supply chain. Since Biden took office in January, the United States has relied almost entirely on imports of materials and equipment for batteries and energy storage systems.
It is also appreciated that the US federal government has incorporated the procurement of schedulable, round-the-clock clean energy into legislation, and Burwen pointed out that the energy storage system will be the key to providing energy. He said the U.S. government has made a commitment to enable communities vulnerable to climate disasters and pollution to invest in resilience and to invest about $35 billion in research and development of various clean energy technologies.
"investing in energy storage systems and other clean energy provides high-paying, high-quality jobs for American workers," Burwen said. Modernizing the power system and providing clean electricity will make America stronger, our communities fairer, and our infrastructure more resilient and reliable. We stand ready to work with the federal government, Congress, and state leaders to better rebuild using the energy storage system. "
, Jason Burwen has been the interim CEO of the American Energy Storage Association since Kelly Speakes-Backman, former president of the American Energy Storage Association, joined the Energy efficiency and Renewable Energy Office of the U.S. Department of Energy in January. Under the leadership of Speakes-Backman and Burwen, the American Energy Storage Association strongly advocates extending the investment tax credit to independently deployed energy storage systems. The American Energy Storage Association and its members also strongly called for the investment tax credit (ITC) to be made to pay subsidies directly, rather than the current complex tax accounting mechanism. The proposed U. S. jobs plan includes this form of direct payment.
Other positive developments in the federal government's commitment to climate and energy equality have also been demonstrated, including the high-profile appointment of Jennifer Granholm as secretary of the U.S. Department of Energy. Granholm said a few days ago that the United States needs to deploy a large number of renewable energy power generation facilities in the next four years, and pointed out the potential of liquid flow batteries for building Electroweb-scale energy storage systems.
However, industry media pointed out that the U. S. government's infrastructure employment plan may be a difficult road. Neil Bradley, executive vice president and chief policy officer of the American Chamber of Commerce, said the plan was dangerously misleading about how to pay for infrastructure, although he acknowledged the need for a "bold plan" to strengthen infrastructure in the US.
Nonetheless, Jesse Jenkins, a macro energy systems engineer at Princeton University, said on Twitter that the overall impact of the plan appears to be transformative, not only in terms of the amount of investment, but also in the impact it will have on the modernization of US infrastructure, making it more reliable and reducing carbon intensity. The tax breaks in the plan are likely to release large amounts of private investment, potentially enabling the United States to achieve its goal of adopting 80% clean electricity by 2030.
