California self-generation program to further encourage storage

California‘s Self-Generation Incentive Program (SGIP) has worked well for solar power in recent years but tCalifornia flaghe scheme is now set to step up its subsidizing of energy storage in order to further facilitate renewable energy in the state.

Greentech media reports that the funds collected from rate payers for the scheme will double to $166 million per year through 2019. Moreover, 85% of the additional funds raised will be allocated to energy storage with fifteen percent of the funds reserved for renewable projects.

The success of the SGIP program in commercializing solar and fuel cell tech leads the commission which heads the program to believe that they can also stimulate the commercialization of storage.

General Capital commented on the new program, saying that the falling costs of energy storage solutions coupled with incentives from the federal tax credit are conditions that will lead to a boom in solar-plus-storage. They predict it will become a standard offer for commercial and industrial customers alike.

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