Innovations in electricity storage are needed if the US is to take advantage of clean energy resources, and two Senators have proposed an investment tax credit to accelerate storage solutions.
Senators Jeff Bingaman (Democrat for New Mexico) and Ron Wyden (Democrat for Oregon), the two ranking Democrats on the Energy and Natural Resources Committee, told an Energy Storage Association forum they are sponsoring a bill, S.1845, with Maine Republican Senator Susan Collins, for a storage investment tax credit (ITC). It would be similar to credits now available for solar installations. Keep reading →
Electrification As An Economic Megatrend: AOL Energy Week In Review
By Peter GardettDebates that have preoccupied and in some cases paralyzed growth in the US energy sector could be overshadowed by the development of a single megatrend at the heart of the global economy: the transition to electric drives in machines of all kinds.
While electric vehicles are the most visible aspect of that change, and with roughly 250 million cars on the road any switch from gasoline to electric is significant, the switch from motors driven by their own internal combustion devices to significantly more efficient electric systems is already occurring in many parts of the economy where the infrastructure and the focus on cost reduction already exists. Keep reading →