ACP Statement on Treasury Guidance for Energy Storage and Offshore Wind Projects

WASHINGTON, D.C., November 17, 2023 – The American Clean Power Association (ACP) released the following statement from ACP Chief Advocacy Officer JC Sandberg after the U.S Treasury released guidance for clean energy projects including the energy storage Investment Tax Credit (ITC) and offshore wind export cables and equipment:

“There is seven times more utility-scale energy storage capacity today compared to the end of 2020. Today’s Treasury guidance will continue that momentum, providing necessary certainty for this growing industry.

“The guidance is also welcome news for the offshore wind sector, providing long-awaited clarity on which components qualify for the ITC. This announcement is important for the 30 offshore wind projects currently in development, but more work remains. We look forward to partnering with the administration to finish the job.”