December is a time of planning, strategizing, and looking forward to a new year filled with so many opportunities. And 2022 couldn’t look any brighter for the energy industry! Many important upcoming policy changes at the federal-level are coming down the pipe. Of course, one of the most important to decarbonizing the power sector is the Standalone Storage Investment Tax Credit (ITC) included in the Build Back Better (BBB) bill. We are keeping a very close eye on all of the latest developments, changes, and advancements so that we can transfer that knowledge on to our partners. There is already a ton of information to process with new updates continuously rolling in.
Read on to learn more about exciting new changes coming soon.
Current updates on the Federal Standalone Storage ITC
The BBB has been passed by the House, and it is currently under consideration in the Senate, where it will most likely be amended, and then eventually be sent to the President for his signature in 2022.
At the top level, the Federal ITC has the potential to bring forward several game-changing policies with a particular focus on microgrids, a direct pay option for tax exempt entities, such as co-ops and public power, and enough rebates to cover up to 50% of energy storage installation costs. All of this could greatly accelerate the clean energy transition!
Stem will host a webinar for our partners immediately after passage of the bill. Attendees will benefit from learning the details on what made it into the final version of the BBB. Join us and your colleagues to stay current and informed.
Why learn from Stem
As you may know, Stem was first-to-market with a pure play, energy storage solution, making us the most familiar and experienced with building standalone energy storage solutions. Our portfolio includes more than 1 gigawatt hours under management and we are firmly established in several key energy markets such as California, Hawaii, New York, and Massachusetts. However, we are quickly growing into new markets like New Jersey, Michigan, Connecticut, and Texas. What sets us apart is that we don’t just offer battery power, we offer brain power to the entire energy storage system. Stem’s Athena® AI software features machine learning, creating the most cost savings and generating maximum revenues for end users. We collect a terabyte of data on a daily basis and our software uses that data for continuous improvement.
Stem has more than 10 years of history partnering with traditional solar developers and we will continue to foster those relationships; we are also expanding opportunities with new entities just entering the market, like general and electrical contractors, utilities, and Coops and Munis. We recognize that storage is different from solar and wind and thus requires different selling approaches and skill sets. That’s why a key focus in 2022 will include training sessions on how best to find and sell standalone storage solutions to help your business flourish in the new year.
When you partner with Stem, we are with you for the long haul. We don’t just deliver a product. We also stand by our partners through warranties, performance guarantees, a 24/7 network operations center, and the understanding that we’ll be there for you when it matters most.
Who benefits with Stem
Energy storage solutions (ESS) aren’t just for solar projects anymore. New opportunities are springing up for electric cooperatives, municipalities, electrical contractors, HVAC contractors—really, any entity that constructs or develops projects ranging from EV charging installations to large solar installations to any type of new building. The universe of ESS is expanding quickly and many companies are just now entering at the ground level; many of which have never previously deployed solar or storage projects.
Right now is the best time to dig deeper into the possibilities of how batteries coupled with AI can make more efficient use of power, driving down costs, and increasing revenue for end users. When you become a qualified partner, you will be eligible for Stem’s exclusive training series that will point you in the right direction for building a new pipeline in 2022. Our courses will provide the education necessary for you to sell and build successful energy storage solutions.
Stem University’s content focuses on key markets and specific state-level policies, regulations and incentive programs. We are committed to continuously rolling out new sessions as updates occur and as storage markets open in new geographic areas.