Inflation Reduction Act

Floor Speech

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Mr. MERKLEY. Mr. President, in the face of the ever growing threat of climate chaos, it is vital for the future of our Nation and our planet that we move swiftly and boldly to transition from an energy economy that relies on carbon fossil fuels to one that is electrified and powered by clean and renewable sources of energy.

The Inflation Reduction Act makes historic investments in making that greener, cleaner future a reality. Included in those investments is the residential clean energy credit for battery storage technology. When we talk about transitioning to a greener economy, energy storage is critical. With this credit, homeowners can install energy storage capacity in two ways: by purchasing stand-alone batteries or by purchasing a bidirectional charger so the batteries in their electric vehicle can discharge to their home or the electric grid. Both will be ``qualified battery storage technology expenditures'' under this legislation.

Bidirectional charging is an exciting, groundbreaking new frontier for our vehicles and for our energy grid. I was excited, not too long ago, to see Ford's new F-150 Lightning with my own eyes when one was parked outside the front of this Capitol. And it was impressive, and I think it could be a game changer. One of the features I loved most is that, in the event that a storm knocks out power to a house, the F-150 Lightning can be plugged in as a backup to keep the lights on. Not only is that convenient, it could be lifesaving.

So I am very excited that this tax credit, which will be essential to the continued development and deployment of bidirectional battery storage technology, is included in the Inflation Reduction Act. And I look forward to supporting it in this bill and then building from it in the days to come.

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