E&E News covered industry impact of the economic decline on the advanced energy industry, including AEE's survey findings. Read excerpts below and the entire E&E News piece here.
The American Council on Renewable Energy (ACORE) and Advanced Energy Economy (AEE), which represent developers and a wide variety of organizations with an interest in clean energy, conducted separate surveys of their members and found widespread concern that developers could miss deadlines for claiming federal tax credits for renewable projects. As many as three-fourths of respondents told ACORE they expected at least some impact on their ability to qualify for credits, and 57% said the impact would be "significant."
In many states, members indicated, prohibitions on gatherings issued by governors were stopping crews from building projects. More than 60% told ACORE that "workforce-related constraints" were either a moderate or significant concern. For AEE, 47% of respondents said that employees had been "unable to perform work due to in-person restrictions," with one solar company saying that stoppages "will result in major cash flow issues and potentially furloughs if these delays last longer than 3-4 months."
Already, nearly 30% of AEE's members said they had reduced their workforces in response to the pandemic, and almost 43% had stopped hiring. "Like many other industries, the advanced energy industry is now reeling, facing unprecedented disruption and dislocation," AEE wrote in an open letter yesterday to Congress and the White House...
Read the entire E&E News piece here.