Yes. Projects that receive the Federal Investment Tax Credit (ITC) and/or Low-Income Housing Tax Credit (LIHTC) for the storage portion may still be eligible for a SOMAH storage incentive.

The value of the ITC or LIHTC for storage is treated as an “other incentive” and must be reported in the SOMAH application. This amount will be deducted from the SOMAH storage incentive. 
The SOMAH Program Handbook includes an example showing how the storage incentive is reduced by the dollar value of the tax credit.

Please note that total SOMAH incentives combined with all other incentives may not exceed the total cost of the integrated solar + storage system or total eligible project costs.