Congress and the White House agreed to a $2 trillion COVID-19 stimulus package late at evening on March 24. Although some democrats have been pushing for solar and wind tax credit score extensions to be included in the invoice, it seems they didn’t make the ultimate model. Still, the solar industry will see some relief in the economy-wide measures included in the invoice.
Following is a press release by Abigail Ross Hopper, president and CEO of the Solar Energy Industries Association:
“As Congress continues to deal with the continuing COVID-19 disaster, we recognize that they’re prioritizing relief for households and small companies. There are a number of parts in this laws that may help solar companies and solar staff, together with long-term unemployment insurance coverage, enterprise loans and provisions that assist worker retention and different worker protections. We will be working to help our members perceive what assets can be found to them on account of this laws and the way they will use these assets to help get by this troublesome time.
“As a result of this pandemic, the solar industry stands to lose half of our jobs — that’s 125,000 families who will no longer receive a paycheck. Congress can help stem this tide. Economic stimulus legislation can help our companies sustain families and invest tens of billions of dollars into the economy over the next couple of years. We remain committed to helping our economy recover from this pandemic. We fully expect to work with Congress on any broad economic stimulus package. This will ensure that when this awful chapter in America’s history comes to an end, the clean energy economy is well positioned to lead our nation’s economic recovery.”
Gregory Wetstone, president and CEO of the American Council on Renewable Energy (ACORE), issued the next assertion:
“The renewable energy industry is fully supportive of broad measures to support the economy, protect workers, and ensure the health care system can effectively respond to the COVID-19 pandemic — which is precisely what the final Senate package is designed to do. When lawmakers turn their attention to measures aimed at bolstering specific sectors of the economy adversely impacted by coronavirus, we want to make sure they understand how supply chain disruptions and other pandemic-related delays are threatening the jobs of hundreds of thousands of workers in the renewable sector and the time-sensitive tax incentives on which renewable project financing depends. In the end, we’re all in this together and the renewable energy industry wants to be a key economic driver to help the nation through this downturn, as well as an effective climate solution over the long haul.”