RELEASE: Future Stimulus Package Can Help Renewable Energy Industry Overcome Impact of Coronavirus
Washington, D.C. — With the renewable energy industry reeling from the impact of the coronavirus pandemic, a new analysis from the Center for American Progress urges Congress to step up and invest in the future of clean energy in the next economic stimulus package.
“The Trump administration has been trying to bail out its friends in the fossil fuel industry at every turn,” said Sally Hardin, a deputy director at CAP. “It’s crucial that lawmakers help stabilize the renewables industry in a future stimulus package in order to build a clean energy future and a sustainable economy once we emerge from this crisis.”
Even before the disruptions caused by COVID-19, the Trump administration’s anti-environmental policies led to the loss or suppression of more than 600,000 jobs in the renewable energy sector, according to a separate analysis from the Center for American Progress Action Fund.
Those losses could get much worse during this pandemic, yet the Trump administration has openly mocked and dismissed the appeals for clean energy support in a stimulus. At the same time, the White House has considered a bailout for the fossil fuel industry.
“This dogged opposition to renewables makes little to no sense, even coming from the Trump administration,” said Bianca Majumder, a research associate for Energy and Environmental Policy at CAP. “Employment in solar, wind, and other clean energy sectors had far outpaced employment in the fossil fuel industry in recent years; it’s a burgeoning sector, and it’s a missed opportunity by this administration.”
Any forward-looking stimulus package should include extensions of the clean energy tax credits that are in the process of phasing out, along with other support to encourage robust and healthy job growth in the renewables industry.
Read the column: “The Impact of the Coronavirus on the Renewable Energy Industry” by Bianca Majumder, Sally Hardin, and Claire Moser.
To find the latest CAP resources on the coronavirus, visit our coronavirus resource page.
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