Energy Storage News•21 days ago
‘Scrutinising origin, ownership, and control’: FEOC rules change US BESS buying
Key Takeaway
New FEOC rules are fundamentally changing US BESS procurement, requiring developers and large power consumers to adapt supply chain strategies to secure IRA benefits and reliable storage solutions.
AI Summary
- •US BESS procurement is being reshaped by new Foreign Entity of Concern (FEOC) rules, impacting eligibility for Inflation Reduction Act (IRA) tax credits.
- •Developers and large power consumers must scrutinize the origin, ownership, and control of battery components to ensure compliance and maximize IRA benefits.
- •Energy storage providers are developing strategies to navigate these supply chain and regulatory shifts over the next year, which will affect BESS availability and pricing for projects.
- •The changes necessitate a re-evaluation of BESS sourcing strategies to maintain project viability and meet clean energy objectives.
Topics
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Article Content
Energy-Storage.news Premium hears from Tom Cornell, CEO and President of Prevalon Energy, about the company's strategies for navigating upcoming changes in the energy storage industry over the next year.