The ink has barely dried on the Inflation Reduction Act of 2022, and at least one of the world’s top investment firms has already leveraged the law’s new tax credit for energy storage. That would be Goldman Sachs, which seems determined to ignore the rising hullabaloo over “woke capitalism” in favor of making bank off the sparkling green economy of the future.
A New Tax Credit For Energy Storage
Federal tax credits for solar and wind development have played an essential role in kickstarting the domestic renewable energy industry. Energy storage is another key element in the clean power revolution, but up until now the tax situation has not reflected the ability of standalone energy storage systems to accelerate wind and solar development.
The Inflation Reduction Act of 2022 changed all that. The new law is a watered-down version of President Biden’s signature “Build…
After IRA, Goldman Sachs Ignites Energy Storage Gold Rush
