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WASHINGTON, D.C. — In a letter delivered to U.S. House and Senate leadership, the clean energy sector is calling for the prompt repair and extension of critically important tax incentives to help renewable and clean grid industries surmount the impacts of the COVID-19 pandemic.

In their joint letter, the American Council on Renewable Energy (ACORE), American Wind Energy Association (AWEA), Business Network for Offshore Wind, Energy Storage Association (ESA), National Hydropower Association (NHA), Clean Energy Buyers Association (CEBA), and the Solar Energy Industries Association (SEIA) write that the growth of the clean energy sector, one of the nation’s most important economic drivers, is placed at risk by a range of COVID-19 related impacts. These impacts include “supply chain disruptions that have the potential to delay construction timetables and undermine the ability of wind, solar and hydropower developers to qualify for time-sensitive tax credits, and a sudden reduction in the availability of tax equity, which is crucial to monetizing tax credits and financing clean energy projects of all types.”

On behalf of the thousands of companies that participate in America’s renewable and clean energy economy, the coalition of organizations is requesting the following to address pandemic-related disruptions:

• An extension of start construction and safe harbor deadlines to ensure that renewable projects can qualify for renewable tax credits despite delays associated with supply chain disruptions;
• Provisions allowing renewable tax credits to be available for direct pay to facilitate their monetization in the face of reduced availability of tax equity; and
• Enactment of a direct pay tax credit for stand-alone energy storage to foster renewable growth and help secure the more resilient grid we need in these difficult times

Click here to download a copy of the coalition letter.

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Lear More About the Industry Groups:
American Council on Renewable Energy
American Wind Energy Association
Business Network for Offshore Wind
Energy Storage Association
National Hydropower Association
Clean Energy Buyers Association
Solar Energy Industries Association

Media Contacts:
Alex Hobson, ACORE
hobson@acore.org | (202) 777-7584

Stacey Kerans, AWEA
skerans@awea.org | (202) 383-2525

Ellen Backus, ESA
news@energystorage.org | (612) 616-2991

LeRoy Coleman, NHA
leroy@hydro.org | (202) 750-8405

Monica Jaburg, REBA
mjaburg@cebuyers.org | (703) 975-7799

Jen Bristol, SEIA
jbristol@seia.org | (202) 556-2886

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