Clean Energy Sector’s Open Letter to Congress
- Mar 23, 2020
The clean energy sector has reached out to the U.S. House of Representatives and the U.S. Senate asking for help to alleviate some of the risks posed by the COVID-19 pandemic. In a joint letter, some of the sector’s most notable organizations including the American Council on Renewable Energy, American Wind Energy Association, Energy Storage Association, National Hydropower Association, Renewable Energy Buyers Alliance and the Solar Energy Industries Association have asked for an extension of tax incentives.
The authors of the letter point out that the growth of the sector, which in the past five years has equated to more than $50 billion in annual investment, is at risk to be suspended due to supply chain disruptions that will likely delay construction timetables and impair developers’ to qualify for time-sensitive tax credits.
Specifically, the coalition of organizations that represents thousands of renewable energy companies, asks for an extension of start construction and safe harbor deadlines; provisions allowing renewable tax credits to be available for direct payment to facilitate their monetization in the face of reduced availability of tax equity and the enactment of a direct pay tax credit for standalone energy storage to foster renewable growth and help secure a resilient grid especially during these critic times.