Even in uncomplicated times, accessing capital and other forms of financial support can be challenging. We summarize here a cross-section of federal and, on an exemplary basis, state financial support mechanisms currently available to the clean energy sector, beyond the historic, now waning Production Tax Credit and Investment Tax Credit. These programs, premised on the contribution to our innovation economy, domestic manufacturing and national security of renewables, energy efficiency solutions and storage systems, are available to developers, entrepreneurs, and investors.
The Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) focused on providing quick and direct relief to businesses and individuals. It did not include provisions related to the federal wind production tax credit (“PTC”) or the federal solar investment tax credit (“ITC”), tax credits that the energy sector employs to advance lower-cost capital.