Maryland Offers Energy Storage Tax Credit…Plus News about Schneider, ENGIE, Veolia and CleanSpark
Maryland offering energy storage tax credit
The Maryland Energy Administration (MEA) is accepting applications for its 2019 energy storage tax credit program, designed to boost use of the resource among households and businesses in the state.
Maryland made national news in 2017 as the first state to pass a bill allowing taxpayers to claim an income tax credit on energy storage devices. In the program’s first year, 61 residential customers and one commercial customer took advantage of the tax credit.
“We are encouraged with the performance of the program in year one, knowing that building on current energy storage technology is key to the state’s renewable energy future,” said Mary Beth Tung, MEA Director.
The energy storage tax credit is available to residential and commercial taxpayers who install a qualifying energy storage system on their property in 2019. For this year, MEA made available $300,000 for residential tax credits and $450,000 for commercial tax credits. Maryland makes the awards on a first come, first served basis.
The energy storage tax credit is calculated as 30 percent of the total installed cost of the energy storage system for up to $5,000 for residential systems and $75,000 for commercial systems.
The deadline to apply is Jan. 15, 2020
Schneider Electric, ENGIE, and Veolia lead on energy as a service
Navigant Research has identified Schneider Electric, ENGIE, and Veolia as leaders in energy as as service (EaaS), an approach that Navigant expects to grow into a $22 billion annual market by 2026.
The three companies are among 10 that Navigant examined in its new Leaderboard Report on use of EaaS by commercial and industrial businesses.
Eaas is used for microgrids, energy storage, portfolio advisory, onsite and offsite energy supply and other energy products used by businesses. The approach relieves the business from the development and operational burden of the project. Instead, a team of industry specialists engineer, build, operate, and maintain the microgrid for the host under short- or long-term contracts.
“Schneider Electric, ENGIE, and Veolia have distinguished themselves by strategically moving toward providing customers the broadest set of EaaS solutions, financing options, and business models to meet their needs,” says William Tokash, senior research analyst with Navigant Research. “While each of these companies approaches the market somewhat differently, they have the most diverse range of options that can be tailored to meet customer needs beyond just performance contracting sectors.”
An executive summary of the report is available for free download on the Navigant Research website.
CleanSpark expands into international markets
CleanSpark, a California-based microgrid developer, has begun expanding into international markets, including Costa Rica, Brazil and Mexico.
In Costa Rica, CleanSpark will serve as technical consultant for a large industrial park, providing financial feasibility study, conceptual engineering, procurement and construction support, programming, testing, and commissioning in partnership with a local firm. CleanSpark won the award based on its performance leveraging its Microgrid Value Stream Optimizer (mVSO) to deliver unlevered returns exceeding 15 percent to the project’s owner. The contract also anticipates use of CleanSpark’s mPulse DER Energy Manager Software to operate the microgrid.
In Brazil, CleanSpark has executed a memorandum of understanding with VedantaESS, the exclusive Iron Flow Battery partner of ESS in Brazil. VedantaESS will leverage CleanSpark’s mVSO software, which has already been used to analyze projects in the country for feasibility assessments. CleanSpark and ESS have partnered in the past to provide a direct current solar plus storage microgrid to the United States Marine Corps Base Camp Pendleton, which will be commissioned in March. CleanSpark will support the late stage development and incorporate its mPulse DER Energy Manager for ongoing operation of the Brazil project,
In Mexico, CleanSpark was engaged by Viasyn, a California-based energy services company, to employ mVSO and analyze a large industrial customer’s energy use in Tijuana.
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