Energy Storage News•17 days ago
PGE receives regulatory approval to increase price of 1GW BESS portfolio, ‘significant changes’ to tariffs and ITC to blame
Key Takeaway
Federal policy adjustments to import tariffs and tax credits are directly increasing the cost of large-scale battery storage projects, posing new financial challenges for developers and potentially impacting electricity rates for large consumers.
AI Summary
- •Portland General Electric (PGE) received regulatory approval to increase the price of its 1GW Battery Energy Storage System (BESS) portfolio.
- •The price increase is directly attributed to recent Federal Government changes in import tariffs and tax credits (ITC).
- •This development signals that federal policy shifts are significantly impacting the cost and financial viability of large-scale energy storage projects for developers and utilities.
Topics
irapolicystorage
Article Content
Investor-owned utility (IOU) Portland General Electric (PGE) has become the latest US entity to reveal the impact of changes to import tariffs and tax credits recently implemented by the Federal Government.