Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on the day's biggest business stories

Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Stay on top of the latest market trends

Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Axios on your phone

Get breaking news and scoops on the go with the Axios app.

Download for free.

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios NW Arkansas

Stay up-to-date on the most important and interesting stories affecting NW Arkansas, authored by local reporters

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Illustration: Sarah Grillo/Axios

Renewable energy industries and some Democrats have begun efforts to ensure the economic response to the coronavirus outbreak helps a sector that's suddenly facing strong headwinds.

The state of play: The industry has already had discussions with lawmakers' offices about how to proceed, Axios has learned.

  • Lawmakers and the White House are working on a $1 trillion coronavirus rescue package, which is bringing new interest in how it will affect specific industries.

Where it stands: Industry officials are taking pains to emphasize that COVID-19 is a public health crisis and back providing fast support to families and small businesses.

  • But they also say broader legislation under discussion to address the economic fallout should consider how the crisis is hitting the sector.
  • "Customer demand for solar has plummeted and companies are seeing significant construction slowdowns, project cancellations, labor shortages, and a host of logistical problems tied to equipment and delivery delays," said Abigail Ross Hopper, head of the Solar Energy Industries Association.

What's next: One set of goals is providing companies more flexibility around deadlines for using existing tax incentives, and changes to their structure to adapt to the economic shock, an industry official said.

  • "Widespread supply chain disruptions and a rapid deterioration of the tax equity market are putting renewable energy projects significantly at risk," Bill Parsons, chief operating officer for the American Council on Renewable Energy, tells Axios.
  • He said Congress should provide "emergency relief" from so-called commence construction and placed-in-service deadlines that developers face to use credits, as well as "refundability to monetize time-sensitive renewable energy credits."
  • And a broader economic stimulus bill should include the new and extended clean energy tax incentives left on the cutting room floor in the late 2019 congressional spending deal, he said.
  • Per Morning Consult, the longstanding ad-hoc House group called the Sustainable Energy and Environment Coalition has taken up the mantle of pushing for the tax provisions in the rescue package.

UPDATE: On Thursday morning, five renewable energy groups and an energy storage trade association sent a letter to House and Senate leaders calling for "prompt repair and extension of critically important tax incentives to help the clean energy sector surmount the impacts of the COVID-19 pandemic."

Flashback: There's precedent for using an economic rescue package to support climate-friendly sectors.

  • The $800 billion 2009 stimulus contained roughly $90 billion for a suite of low-carbon energy, efficiency and transit programs.
  • It included a program to provide grants in lieu of tax credits for renewables projects because the tax equity market had collapsed alongside the financial sector.

Editor's note: This story has been updated to include a new letter to Capitol Hill from renewable energy organizations.

Go deeper

Manhattan, Westchester prosecutors request evidence from Cuomo investigation

Gov. Cuomo during a press conference in New York City on Aug. 2. Photo: Lev Radin/Pacific Press/LightRocket via Getty Images

The district attorneys for Manhattan and Westchester County on Wednesday requested evidence related to New York Attorney General Letitia James' investigation into sexual harassment allegations against Gov. Andrew Cuomo (D), according to a letter obtained by NBC News.

Why it matters: The district attorneys are investigating if alleged conduct highlighted in an independent report published by James' office that occurred in their jurisdictions was criminal in nature.

Scoop: Buzzy media startup Puck launches in beta

Puck.news

Puck, a splashy new digital media company, is coming out of stealth mode, Axios has learned. The company debuted its landing page, puck.news, on Wednesday, and will officially launch its website in September.

Why it matters: The company has been quietly building a roster of top talent, but hadn't confirmed its branding or exact business plans up until now.

NOAA's updated hurricane outlook calls for even more storms in 2021

Hurricane Dorian seen on Sept. 2, 2019. Photo: NOAA

The National Oceanic and Atmospheric Administration on Wednesday updated its 2021 Atlantic hurricane seasonal forecast, slightly increasing expectations for the number of named storms and powerful hurricanes.

Why it matters: With the U.S. already reeling from extreme heat and wildfires, disaster response agencies are overstretched. A particularly destructive and active hurricane season could overwhelm some of its response capacity.