Storage Technology of Renewable and Green Energy Act of 2009 or the STORAGE Act of 2009 - Amends the Internal Revenue Code to: (1) allow a 20% energy tax credit for investment in energy storage property directly connected to the electrical grid (i.e., state systems of generators, transmission lines, and distribution facilities) and designed to receive, store, and convert energy to electricity and deliver such electricity for sale; (2) make such property eligible for new clean renewable energy bond financing; (3) allow a 30% energy tax credit for investment in energy storage property used at the site of energy storage; and (4) allow a 30% nonbusiness energy property tax credit for the installation of energy storage equipment in a principal residence.
[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4210 Introduced in House (IH)]
111th CONGRESS
1st Session
H. R. 4210
To amend the Internal Revenue Code of 1986 to provide for an energy
investment credit for energy storage property connected to the grid,
and for other purposes.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
December 3, 2009
Mr. Thompson of California (for himself and Mr. Wu) introduced the
following bill; which was referred to the Committee on Ways and Means
_______________________________________________________________________
A BILL
To amend the Internal Revenue Code of 1986 to provide for an energy
investment credit for energy storage property connected to the grid,
and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Storage Technology of Renewable and
Green Energy Act of 2009'' or the ``STORAGE Act of 2009''.
SEC. 2. ENERGY INVESTMENT CREDIT FOR ENERGY STORAGE PROPERTY CONNECTED
TO THE GRID.
(a) 20 Percent Credit Allowed.--Subparagraph (A) of section
48(a)(2) of the Internal Revenue Code of 1986 is amended--
(1) by striking ``and'' at the end of subclause (IV) of
clause (i),
(2) by striking ``clause (i)'' in clause (ii) and inserting
``clause (i) or (ii)'',
(3) by redesignating clause (ii) as clause (iii), and
(4) by inserting after clause (i) the following new clause:
``(ii) 20 percent in the case of qualified
energy storage property, and''.
(b) Qualified Energy Storage Property.--Subsection (c) of section
48 of such Code is amended by adding at the end the following new
paragraph:
``(5) Qualified energy storage property.--
``(A) In general.--The term `qualified energy
storage property' means property--
``(i) which is directly connected to the
electrical grid, and
``(ii) which is designed to receive
electrical energy, to store such energy, and to
convert such energy to electricity and deliver
such electricity for sale.
Such term may include hydroelectric pumped storage and
compressed air energy storage, regenerative fuel cells,
batteries, superconducting magnetic energy storage,
flywheels, thermal, and hydrogen storage, or
combination thereof.
``(B) Minimum capacity.--The term `qualified energy
storage property' shall not include any property unless
such property in aggregate--
``(i) has the ability to store at least 2
megawatt hours of energy, and
``(ii) has the ability to have an output of
500 kilowatts of electricity for a period of 4
hours.
``(C) Electrical grid.--The term `electrical grid'
means the system of generators, transmission lines, and
distribution facilities which--
``(i) are under the jurisdiction of the
Federal Energy Regulatory Commission or State
public utility commissions, or
``(ii) are owned by--
``(I) a State or any political
subdivision of a State,
``(II) an electric cooperative that
receives financing under the Rural
Electrification Act of 1936 (7 U.S.C.
901 et seq.) or that sells less than
4,000,000 megawatt hours of electricity
per year, or
``(III) any agency, authority, or
instrumentality of any one or more of
the entities described in subclause (I)
or (II), or any corporation which is
wholly owned, directly or indirectly,
by any one or more of such entities.''.
(c) Effective Date.--The amendments made by this section shall
apply to periods after the date of the enactment of this Act, under
rules similar to the rules of section 48(m) of such Code (as in effect
on the day before the date of the enactment of the Revenue
Reconciliation Act of 1990).
SEC. 3. ENERGY STORAGE PROPERTY CONNECTED TO THE GRID ELIGIBLE FOR NEW
CLEAN RENEWABLE ENERGY BONDS.
(a) In General.--Paragraph (1) of section 54C(d) of the Internal
Revenue Code of 1986 is amended to read as follows:
``(1) Qualified renewable energy facility.--The term
`qualified renewable energy facility' means a facility which
is--
``(A)(i) a qualified facility (as determined under
section 45(d) without regard to paragraphs (8) and (10)
thereof and to any placed in service date), or
``(ii) a qualified energy storage property (as
defined in section 48(c)(5)), and
``(B) owned by a public power provider, a
governmental body, or a cooperative electric
company.''.
(b) Effective Date.--The amendment made by this section shall apply
to obligations issued after the date of the enactment of this Act.
SEC. 4. ENERGY INVESTMENT CREDIT FOR ONSITE ENERGY STORAGE.
(a) Credit Allowed.--Clause (i) of section 48(a)(2)(A) of the
Internal Revenue Code of 1986, as amended by this Act, is amended--
(1) by striking ``and'' at the end of subclause (III),
(2) by inserting ``and'' at the end of subclause (IV), and
(3) by adding at the end the following new subclause:
``(V) qualified onsite energy
storage property,''.
(b) Qualified Onsite Energy Storage Property.--Subsection (c) of
section 48 of such Code, as amended by this Act, is amended by adding
at the end the following new paragraph:
``(6) Qualified onsite energy storage property.--
``(A) In general.--The term `qualified onsite
energy storage property' means property which--
``(i) provides supplemental energy to
reduce peak energy requirements primarily on
the same site where the storage is located, or
``(ii) is designed and used primarily to
receive and store intermittent renewable energy
generated onsite and to deliver such energy
primarily for onsite consumption.
Such term may include property used to charge plug-in
and hybrid electric vehicles if such vehicles are
equipped with smart grid services which control time-
of-day charging and discharging of such vehicles. Such
term shall not include any property for which any other
credit is allowed under this chapter.
``(B) Minimum capacity.--The term `qualified onsite
energy storage property' shall not include any property
unless such property in aggregate--
``(i) has the ability to store the energy
equivalent of at least 20 kilowatt hours of
energy, and
``(ii) has the ability to have an output of
the energy equivalent of 5 kilowatts of
electricity for a period of 4 hours.''.
(c) Effective Date.--The amendments made by this section shall
apply to periods after the date of the enactment of this Act, under
rules similar to the rules of section 48(m) of such Code (as in effect
on the day before the date of the enactment of the Revenue
Reconciliation Act of 1990).
SEC. 5. CREDIT FOR RESIDENTIAL ENERGY STORAGE EQUIPMENT.
(a) Credit Allowed.--Subsection (a) of section 25C of the Internal
Revenue Code of 1986 is amended--
(1) by striking ``and'' at the end of paragraph (1),
(2) by redesignating paragraph (2) as paragraph (3), and
(3) by inserting after paragraph (1) the following new
paragraph:
``(2) 30 percent of the amount paid or incurred by the
taxpayer for qualified residential energy storage equipment
installed during such taxable year, and''.
(b) Qualified Residential Energy Storage Equipment.--
(1) In general.--Section 25C of such Code is amended--
(A) by redesignating subsections (e), (f), and (g)
as subsections (f), (g), and (h), respectively, and
(B) by inserting after subsection (d) the following
new subsection:
``(d) Qualified Residential Energy Storage Equipment.--For purposes
of this section, the term `qualified residential energy storage
equipment' means property--
``(1) which is installed in or on a dwelling unit located
in the United States and owned and used by the taxpayer as the
taxpayer's principal residence (within the meaning of section
121), or on property owned by the taxpayer on which such a
dwelling unit is located, and
``(2) which--
``(A) provides supplemental energy to reduce peak
energy requirements primarily on the same site where
the storage is located, or
``(B) is designed and used primarily to receive and
store intermittent renewable energy generated onsite
and to deliver such energy primarily for onsite
consumption.
Such term may include property used to charge plug-in and hybrid
electric vehicles if such vehicles are equipped with smart grid
services which control time-of-day charging and discharging of such
vehicles. Such term shall not include any property for which any other
credit is allowed under this chapter.''.
(2) Conforming amendment.--Section 1016(a)(33) of such Code
is amended by striking ``section 25C(f)'' and inserting
``section 25C(g)''.
(c) Effective Date.--The amendments made by this section shall
apply to property placed in service after the date of the enactment of
this Act.
<all>
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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