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Energy News Roundup: Energy Storage Tax Credit, Revenue Stacking, Global Views on Renewables

Energy News Roundup: Energy Storage Tax Credit, Revenue Stacking, Global Views on Renewables

| Maxwell Technologies

Need to catch up on energy news? Here’s your roundup.

Europe breaks wind energy record

Europe breaks wind energy record, but what’s next?

In 2017, the European wind industry installed 15.7 gigawatts of new wind energy capacity, bringing its total to 169 gigawatts and accounting for 12% of Europe’s electricity. Wind had a strong year, but the future is uncertain due to lack of European governments’ renewable energy goals post 2020. Read more on the issue here.
Maryland paves the way with first energy storage tax credit

Maryland paves the way with first energy storage tax credit

If you’re a resident or commercial property in Maryland, you can now claim energy storage systems against your state income taxes. The state’s Energy Storage Tax Credit Program is the first of its kind in the United States and encourages Maryland residents to become part of the effort to support grid resiliency.
Energy storage gets a new set of rules in California

Energy storage gets a new set of rules in California

Another first: California is the first state regulator to issue revenue stacking rules for energy storage projects. Revenue stacking means creating multiple uses for an energy storage system to allow for various revenue streams—clearing the way for energy storage systems to become more cost-effective for utilities.
China on its way to attaining complete grid parity for solar PV by 2023

China on its way to attaining complete grid parity for solar PV by 2023

A report titled Lloyd’s Register Technology Radar 2018: Renewable Energy analyzed responses from nearly 800 professionals in power utility, energy, and oil and gas firms worldwide to give us an outlook on renewables for 2018 and beyond. Some of the findings based on the responses in the study include (i) China will lead the way in solar PV in 2023; (ii) renewables have not overtaken fossil fuels in most countries and such will not occur until after 2025; (iii) high development costs are still a major obstacle for pursuing renewables.


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