Source: Clean Energy Business Network, May, 14, 2020
The next episode of our webinar series with BCSE, Powering Forward, is on May 20th.
This week, Democrats unveil a fifth COVID relief bill, the Treasury plans to extend safe harbor deadlines for renewables, and DOI approves the country’s largest-ever solar project.
Webinar – The Clean Energy Economy: A Decade of Growth, a First Quarter Disrupted Don’t miss the second installment of BCSE & CEBN’s webinar series, Clean Energy Economy: A Decade of Growth, A First Quarter Disrupted. Learn about the long-term trends that have taken place across the energy sector along with the latest insights on how the COVID-19 crisis has impacted clean energy in the first quarter of 2020. Hear from industry analysts at Bloomberg New Energy Finance, BW Research, and E2. Register here.
Treasury expected to extend ITC and PTC deadlines
In response to Sen. Grassley’s April letter, the Treasury has indicated plans for an extension of the continuity safe harbor rules for renewables projects. Renewable projects that began construction in 2016 or 2017 would be able to lock in ITC and PTC credits before these were phased down if they demonstrated a project had commenced construction. To qualify for the retroactive value of the tax credits, these projects would need to have been placed in service within four years. IRS is signaling it may extend this safe harbor window to five years.
How is COVID-19 impacting your business? How should Congress respond?
The CEBN is currently seeking information through a brief survey on how clean energy businesses are being impacted by COVID-19 and how we can best re-emerge into the economy when the public health crisis abates. Results will help inform recommendations to policymakers about the appropriate ways to assist the cleantech community.
Tell Congress: Put clean energy back in business
Sign onto a business letter urging Congress to include clean energy provisions in an economic stimulus or infrastructure bill. Ensure clean energy has a seat at the table with two clicks!
FEDERAL POLICY UPDATE
House Democrats unveil $3 Trillion COVID relief bill
The HEROES Act is set to be voted on tomorrow. It is not expected to gain Republican support in either chamber. The bill expands on the first CARES Act and includes funding for state and local governments, hazard pay for essential workers, and a second round of direct payments to Americans. The bill includes $10 billion in new funds for SBA’s disaster loan program, enhances the payroll retention tax credit, but no new funds for the Paycheck Protection Program. It does not include any relief targeted for clean energy. House Democrats also unveiled a proxy voting proposal enabling members to vote on behalf of their colleagues.
Lawmakers urge Trump to punish banks that won’t back drilling
In a letter released Friday, lawmakers pressed the White House to punish financial institutions that restrict financing for oil and coal. The statement suggests that these lenders are discriminating against the nation’s energy industry and should be blocked from participating in loan programs set up in response to COVID-19, such as the Paycheck Protection Program.
EIA projects renewables to pass coal generation for first time
In the Energy Information Administration’s short-term energy outlook for May, forecasts show renewable generation for 2020 may surpass coal generation for the first time in history. Though there is much uncertainty surrounding the COVID crisis going forward, it has already led to decreased electricity demand, which has impacted coal generation more drastically.
Greentech Alliance launches, now accepting applicants
The Alliance supports green technology businesses with advice on funding, impact, visibility and strategy with the help of top VCs, journalists, advisors and entrepreneurs.
US Offshore Wind 2020 Conference and Exhibition, June 18-19
This year’s free virtual conference connects attendees to hundreds of c-level offshore wind executives through its unique networking platform. Join developers, investors, contractors, manufacturers, suppliers, and key stakeholders at America’s largest offshore wind event.
DOE Office of Electricity stakeholder calls, May 14 & 21
The Office of Electricity will host two informational webinars to discuss President Trump’s May 1st Executive Order, “Securing the United States’ Bulk Power System.” Space is limited.
IL: School district is ready for electric buses
Energy News Network
MN: Utility plans first-of-its kind long duration battery
ND: Utility bets on wind, to close state’s biggest coal plant
NV: Interior greenlights biggest-ever U.S. solar power project
VA: Dominion ramps up renewables and storage in IRP