Will San Diego Gas & Electric get tax credits for energy storage projects?

Courtesy of the company San Diego Gas & Electric is seeking federal investment tax credits for its energy storage projects which would represent millions in savings for its customers, it was announced Monday. The tax credits the utility company are pursuing would add up to $215 million in savings, a release from the company read.

Why is California boosting battery storage projects?

SACRAMENTO – California is boosting battery storage projects across the state – an important part of the state’s transition to 100% clean electricity. California today approved a $42 million grant to International Electric Power to build a long-duration energy storage project at Marine Corps Base Camp Pendleton in San Diego County.

How much battery storage does SDG&E have?

SDG&E's utility-owned battery storage portfolio is expected to reach nearly 480 MW of power capacity and over 1.9 GWh of energy storage by year-end, including the Westside Canal expansion and two additional projects in San Diego County currently being constructed.

Will SDG&E's Electric Delivery rates be reduced by 3%?

They would help offset costs such as “other grid improvements related to wildfire safety and new powerlines to enable building and transportation electrification,” a company statement read. As it stands, every $100 million in cost reduction translates into SDG&E’s electric delivery rates getting reduced by about 3%.