Fluence said the Inflation Reduction Act could accelerate the shift of the battery cell production industry closer to the United States.
The bill will implement tax incentives for the U.S. energy storage industry chain and implement investment tax credits for independent energy storage projects, which are expected to reduce the investment cost of energy storage equipment by more than 30%.
"Whether energy storage and generation are deployed together or separately, the power system will benefit from reliability, efficiency and emission reductions, which will help incentivize the development of energy storage," Fluence said.
Major suppliers are expected to speed up the move to move cell production near the U.S. market, and Fluence is keen to secure a high market share when the new capacity comes online.
In addition, the Turkish company Kontrolmatic recently announced that it will increase the capacity of the planned U.S. lithium-ion battery gigafactory by 50% to 3GWh per year, given the passage of the Inflation Reduction Act.
Fluence also recently moved its own production to the US, opening a manufacturing facility in Utah.
