E&E News reported coronavirus federal aid has not reached advanced energy companies and workers, noting recommendation to shift tax credits to direct pay, featuring AEE's COVID-19 Fact Sheet. Read excerpts below and the entire E&E News piece here (sub. req.).
More than 80% of clean energy companies say they are delaying or stopping projects because of the novel coronavirus, and a majority are calling for a replacement of federal tax credits, according to a new report. Advanced Energy Economy, whose members range from Microsoft Corp. to Apex Clean Energy Inc., said 40% of companies in a survey released yesterday reported a 26% to 50% drop in sales compared with earlier projections. More than 60% of surveyed companies said that federal aid packages have not helped their businesses, and more than 90% said Federal Reserve loans have been of little assistance.