Underutilized Sources of Public Capital for the Clean Energy Sector
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. They offer a diverse quiver of arrows ranging from direct loans and grants, through loan guarantees and tax benefits, to opportunities for R&D collaboration with this nation’s National Laboratories. We specifically highlight underutilized programs, but also include programs that, however well known in some circles, may now engage a broader coalition. Collectively, these financial support systems, some competitively awarded, are expected to allocate tens of billions of dollars across the spectrum of clean energy ventures and projects. They also may carry collateral benefits, reputational and otherwise.
Jones Day publications should not be construed as legal advice on any specific facts or circumstances. The contents are intended for general information purposes only and may not be quoted or referred to in any other publication or proceeding without the prior written consent of the Firm, to be given or withheld at our discretion. To request reprint permission for any of our publications, please use our “Contact Us” form, which can be found on our website at www.jonesday.com. The mailing of this publication is not intended to create, and receipt of it does not constitute, an attorney-client relationship. The views set forth herein are the personal views of the authors and do not necessarily reflect those of the Firm.