Tracking Survey. This morning I am joining Roth Capital on a conference call with investors to discuss the results of the past two week’s tracking survey. If you’re interested in the results from this week, fill out your responses today. This takes 60 seconds and provides feedback about the market and legislators looking to see what to focus on. Link.
Trouble In Texas. Oil companies are having issues keeping their businesses afloat. This comes due to a double dilemma of Coronavirus and OPEC’s price slashing. Oil prices are down dramatically and oil companies want a bailout in the form of a major purchase by the federal government and likely more.
Setting The Stage. The problem with the bailout, a $3billion purchase adding to the strategic petroleum reserve, is that Congress needs to approve it and didn’t include it in the last stimulus bill. Much like the 2016 ITC extension which was traded for the oil embargo lifting, democrats in Congress are calling for solar to also get support alongside oil.
Op-Ed Battles. Kevin McCarthy and Newt Gingrich are trying to counter the negotiation from a position of political minority. They are claiming that industry support is being held up by radical requests for a green new deal in time of crisis. Don’t fall for this, just last week the EPA is using the pandemic as an excuse to relax environmental standards and rollback of regulations that protect the environment.
Political Reality. Now is the time to stay in touch with your member of Congress and give them the details of the issues facing your business. Tell them what an ITC extension, grant in lieu and inclusion of storage means to you as a solar professional. You want them to make solar support a non-negotiable, especially in this time of crisis, not in spite of it. I don’t doubt that oil will get their handout and more, solar is doing good work and keeping folks working.
Be Aware. CISA, a federal agency, released a memo that clearly states that solar is a critical sector. See it here.
- Axios: Texas oil regulators poised to debate historic production controls
- Washington Post: The Energy 202 – Struggling U.S. oil companies hope for more economic help in next coronavirus stimulus package
- Vox: A top Republican wants to hold off on additional coronavirus aid
- Utility Dive: EPA gives power plants, regulated entities pollution compliance flexibility, citing COVID-19 concerns
- Greentech Media: Most US Solar Manufacturing Continues Despite Coronavirus Restrictions
- Popular Mechanics: Some Countries Are Panic Buying Solar Panels. Is the U.S. Next?
- PV-Tech: Intersolar Europe 2020 cancelled as COVID-19 crisis intensifies
- Grist: Democracy on hold – States are canceling public meetings amid coronavirus crisis
Opinion
Best, Yann
The post This is your SolarWakeup for March 31st, 2020 appeared first on SolarWakeup.com.
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