Coalition calls on US Congress to expand green energy incentives as COVID-19 sets in

Facebook
Twitter
LinkedIn
Reddit
Email
Source: Flickr, Matt Wade

Clean energy trade bodies and groups in the US have called on lawmakers to extend and improve tax incentives to help the renewable and clean grid industries surmount the COVID-19 pandemic.

The groups – which include the Solar Energy Industries Association (SEIA), the American Council on Renewable Energy (ACORE) and the Energy Storage Association (ESA) – wrote in an open letter on Thursday that supply chain disruptions and a drop in available tax equity will undermine renewable project finance, construction deadlines, as well as developers’ ability to meet tax credit deadlines and then monetise those incentives.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

The coalition asked specifically for an extension of start construction and safe harbour deadlines, for provisions allowing renewable tax credits to be available for direct pay, and enactment of a direct pay tax credit for stand-alone energy storage.

“Like all sectors of our economy, the renewable and clean grid industry – including developers, manufacturers, construction workers, electric utilities, investors and major corporate consumers of renewable power – needs stability,” the letter to house and senate leaders notes. “The current uncertainty about the ability to qualify for and monetise tax incentives will have real and substantial negative impacts to the entire economy.”

For its part, the SEIA is currently carrying out industry surveys to better understand the impacts of COVID-19.

SEIA President and chief executive Abigail Ross Hopper wrote in an open letter on 12 March that the pandemic was “taking a toll on the industry”.

“We are getting reports from our members about supply chain disruptions, project delays, sales challenges and more. It is clear that companies will feel the effects of these market disruptions,” she wrote.

The prospects and challenges of solar's new era in the US will take centre stage at Large Scale Solar USA 2020 (Austin, Texas, on 23-24 June 2020)

Read PV Tech’s live compilation of how the pandemic is disrupting PV supply chains here.

Participate in the SEIA’s COVID-19 impacts survey here.

22 May 2024
London, UK
At the time of writing, Europe had had its most successful year in terms of Power Purchase Agreements (PPAs) with a record 7.8GW of renewable energy contracts signed. As we gather in May 2024 for the third edition of the Renewable Energy Revenues Summit, the energy landscape continues to evolve rapidly, influenced by the beating drum of climate change, volatility around power prices and the need to decarbonise power procurement as well as generation.
8 October 2024
San Francisco Bay Area, USA
PV Tech has been running an annual PV CellTech Conference since 2016. PV CellTech USA, on 8-9 October 2024 is our second PV CellTech conference dedicated to the U.S. manufacturing sector. The event in 2023 was a sell out success and 2024 will once again gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing in the U.S. out to 2030 and beyond.
22 October 2024
New York, USA
Returning for its 11th edition, Solar and Storage Finance USA Summit remains the annual event where decision-makers at the forefront of solar and storage projects across the United States and capital converge. Featuring the most active solar and storage transactors, join us for a packed two-days of deal-making, learning and networking.

Read Next

Subscribe to Newsletter

Upcoming Events

Solar Media Events
May 22, 2024
London, UK
Upcoming Webinars
May 29, 2024
11am (EDT) / 5pm (CEST)
Solar Media Events
June 4, 2024
London, UK
Upcoming Webinars
June 11, 2024
3:00 PM (BST) / 4:00 PM (CEST)