Battery storage becomes more affordable
March 14, 2018
This article from Greentech Media breaks down what the recent private letter from the IRS means for the affordability of home battery storage. Until now, home battery storage has been a pricey addition to a residential solar system that only a small percent of early adopters have chosen to do. This new letter states that a retrofit to an existing residential PV system of a battery, inverter, wiring and software will be subject to the 30% Investment Tax Credit (ITC) as long as it is only charged by the sun.
That makes this next year and a half an important time period for people interested in adding battery back up to their rooftop PV system! The ITC is scheduled to be reduced to 26% in 2020, 22% in 2021. After December 31st, 2021, the residential tax credit will officially end and the commercial and utility credit will drop to a permanent 10%. Read more about the ITC here.