Are there any incentives?
The Federal Investment Tax Credit (ITC) available for solar installations can also cover the cost of battery storage. This is not a refund or a rebate. The ITC provides a one-time, non-refundable credit you can count towards your federal tax burden. This tax credit is 30% of the installed system cost for systems placed in service between 2023 and 2032. In 2033 the credit drops to 26% and in 2034 it drops to 22%. Learn more about the federal solar investment tax credit. You file for the tax credit when you file your taxes for the year the battery was installed.
Some states and jurisdictions are also beginning to offer incentives. Maryland, for example, offers a 30% state tax credit off of the cost of battery storage with a maximum credit of $5,000 for residential systems.