Energy storage financing barriers will affect the development of photovoltaic industry, calling for independent energy storage ITC

Recently, at the solar and storage finance USA meeting hosted by solar media, the experts attending the meeting pointed out that the obstacles to the financing of energy storage system may hinder the development of the solar energy industry in the United States. At the same time, investment tax credit (ITC) should be approved for stand-alone energy storage system projects.

Experts at the meeting said that the renewable energy industry in the United States must redouble its efforts to overcome the problem of energy storage financing, so that energy storage technology can help the growth of the U.S. solar energy industry. In addition, the meeting also discussed the development potential of the energy storage market after the inauguration of the new US president in 2021.

"We can't develop solar projects at the same pace without deploying energy storage systems," said Lacie Clark, chief executive of alchemy renewable energy, a company invested by monarch private capital, which owns and operates a large number of renewable energy plants.