CT HB05442

Amends Section 16-243ee to require the Public Utilities Regulatory Authority to authorize use of federal funds available under the Inflation Reduction Act of 2022 to expand incentives for electric energy storage resources in annual program adjustment proceedings.

Allows the Connecticut Green Bank or Department of Energy and Environmental Protection to transfer Inflation Reduction Act federal grants or funding to electric distribution companies to expand electric energy storage resource incentives within existing programs.

Directs the Office of Policy and Management to study the feasibility of exempting energy storage systems from property tax and implementing a uniform tax on storage capacity, with a report due to the joint standing committee on energy and technology by January 1, 2025.

Report must include a summary of current statutory framework for taxing energy storage systems, review of how other states tax such systems, evaluation of whether systems providing grid benefits are adequately incentivized, and recommendations for legislative changes.