• 2 minutes California to ban gasoline for lawn mowers, chain saws, leaf blowers, off road equipment, etc.
  • 6 minutes China and India are both needing more coal and prices are now extremely high. They need maximum fossil fuel.
  • 11 minutes Europeans and Americans are beginning to see the results of depending on renewables.
  • 8 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 6 hours Monday 9/13 - "High Natural Gas Prices Today Will Send U.S. Production Soaring Next Year" by Irina Slav
  • 19 mins Two Good and Plausible Ideas about Saving Water and Redirecting it to Where it is Needed.
  • 1 day Did China cherry-pick the factors that affected the economic slow-down?
  • 3 hours Are you aware of Oil Price short videos on our energy topics?
  • 1 day "Here is The Hidden $150 Trillion Agenda Behind The "Crusade" Against Climate Change" - Zero Hedge re: Bank of America REPORT
  • 8 hours Is China Rising or Falling? Has it Enraged the World and Lost its Way? How is their Economy Doing?
  • 11 hours NordStream2
  • 4 days U.S. : Employers Can Buy Retirement Security for $2.64 an Hour
  • 410 days Class Act: Bet You've Never Seen A President Do This.
  • 11 mins "A Very Predictable Global Energy Crisis" by Irina Slav --- MUST READ
  • 4 days Forecasts for Natural Gas
  • 4 days Australia sues Neoen for lack of power from its Tesla battery
  • 4 days Nord Stream - US/German consultations
Haley Zaremba

Haley Zaremba

Haley Zaremba is a writer and journalist based in Mexico City. She has extensive experience writing and editing environmental features, travel pieces, local news in the…

More Info

Premium Content

U.S. Solar Industry Wants Government Bailout As Bankruptcies Loom

Coronavirus is hitting the energy industry hard. First, it instigated a breakup between the OPEC+ countries of Saudi Arabia and Russia, leading to an oil price war which then led to a spectacular oil price crash. Now, the Permian Basin, once the site of an unparalleled shale boom, is currently facing tens of thousands of layoffs. Then it crushed biofuel markets across the world. Now it’s hitting the renewable energy industry, and solar is begging for a bailout.  While Congress and the White House have finally come to a hard-won agreement on a $2 trillion coronavirus economic stimulus package, negotiated earlier this week, solar and wind did not receive the support they were looking for. “Although some democrats were pushing for solar and wind tax credit extensions to be included in the bill, it appears they didn’t make the final version,” reported Solar Power World. “Still, the solar industry will see some relief in the economy-wide measures included in the bill.”

President and CEO of the Solar Energy Industries Association Abigail Ross Hopper responded: “As Congress continues to address the ongoing COVID-19 crisis, we appreciate that they are prioritizing relief for families and small businesses. There are several elements in this legislation that can help solar businesses and solar workers, including long-term unemployment insurance, business loans and provisions that support employee retention and other employee protections. We will be working to help our members understand what resources are available to them as a result of this legislation and how they can use those resources to help get through this difficult time.

“As a result of this pandemic, the solar industry stands to lose half of our jobs — that’s 125,000 families who will no longer receive a paycheck. Congress can help stem this tide. Economic stimulus legislation can help our companies sustain families and invest tens of billions of dollars into the economy over the next couple of years. We remain committed to helping our economy recover from this pandemic. We fully expect to work with Congress on any broad economic stimulus package. This will ensure that when this awful chapter in America’s history comes to an end, the clean energy economy is well-positioned to lead our nation’s economic recovery.”

Related: How COVID-19 Could Spark The Next Recession

President and CEO of the American Council on Renewable Energy (ACORE) also issued a statement echoing the urgency of saving the solar industry as so many other energy sectors are also taking a beating. “The renewable energy industry is fully supportive of broad measures to support the economy, protect workers, and ensure the health care system can effectively respond to the COVID-19 pandemic — which is precisely what the final Senate package is designed to do, he said. “When lawmakers turn their attention to measures aimed at bolstering specific sectors of the economy adversely impacted by coronavirus, we want to make sure they understand how supply chain disruptions and other pandemic-related delays are threatening the jobs of hundreds of thousands of workers in the renewable sector and the time-sensitive tax incentives on which renewable project financing depends. In the end, we’re all in this together and the renewable energy industry wants to be a key economic driver to help the nation through this downturn, as well as an effective climate solution over the long haul.”

The entire solar energy sector seems to be speaking out. In a letter signed by more than 550 solar companies across the United States, the solar industry is pleading with the federal government to provide support to the hundreds of thousands of people employed by the U.S. solar sector, according to Energy Live News.

Keeping the renewable energy sector afloat is essential and letting the solar sector go bankrupt or even shrink by any sizable margin would be a huge misstep at a moment that every economic decision the government makes is under a microscope. 

By Haley Zaremba for Oilprice.com 

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment
  • Suqi Madiqi on March 31 2020 said:
    Electricity prices increased by:

    51 percent in Germany during its expansion of solar and wind energy from 2006 to 2016;
    24 percent in California during its solar energy build-out from 2011 to 2017;
    over 100 percent in Denmark since 1995 when it began deploying renewables (mostly wind) in earnest.

    What gives? If solar panels and wind turbines became so much cheaper, why did the price of electricity rise instead of decline?
  • Jesus Galarza on April 03 2020 said:
    Why alternative energys are struggling?, shouldn'tt oil war price make these technoligies more feasible?

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News