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ACORE Statement to the International Trade Commission in Favor of a Recommendation of Non-Restrictive Trade Remedies

Remarks as Prepared for Delivery by Gregory Wetstone, President and CEO, American Council on Renewable Energy

WASHINGTON, October 3, 2017 – "I am Greg Wetstone, president and CEO of the American Council on Renewable Energy. ACORE represents hundreds of leading companies from across the renewable energy sector, including key U.S. companies active in solar generation, manufacturing, and development, as well as those investing and financing billions of dollars in solar projects each year and those procuring solar power to meet energy requirements, service critical energy functions and achieve sustainability objectives. Our members will be directly impacted by the remedies recommended by the Commission.

While we fully support measures to promote greater U.S. manufacturing competitiveness and capability, including in crystalline silicon and other solar technology, we are deeply concerned about the economic impact of any trade restrictive remedy.

The adoption of trade restrictive remedies would have a profoundly negative impact on the growing U.S. solar market, with serious repercussions for American jobs and economic development, and would also harm electricity consumers, homeowners and businesses, who will face higher prices. Few companies are likely to invest in new silicon PV manufacturing facilities in the US on the basis of any four-year program of trade restrictions. Even if there is some increase in crystalline silicon PV manufacturing, we will still see a net negative impact on manufacturing as a result of the expected decrease in US demand for domestically manufactured racking systems, inverters, and related electronics, hardware and tracking technology.

Solar power has been the largest source of new electric power infrastructure in the U.S. for the last two years, with nearly 15,000 megawatts installed and approximately $25.5 billion of capital invested in 2016 alone. Market forecasts project continued growth in investment and deployment, totaling as much as 72.5 GW over the next five years.

However, remedies proposed by the petitioners last week (tariff of $0.25/watt for cells) would result in a 23 GW, or 32 percent, reduction in forecast solar deployment from 2018 through 2022 and the loss of billions in new solar investment across the U.S.

As you’ve heard today, trade restrictive remedies would also dramatically reduce employment in the solar sector. Projections suggest that over 62,800 jobs could be lost in 2018 alone; with over additional 80,000 jobs lost in 2020 and again in 2021. Analysts also expect negative impacts in the U.S. solar manufacturing sector, which includes a substantial production of inverters, racking systems and other related products.

There is little doubt that the adoption of trade restrictive remedies, in this case, would cause far more economic and social harm than good. While such remedies would have a widespread impact, there is little chance of success in turning around the businesses of the petitioners in this case or fundamentally improving the competitiveness of U.S. solar manufacturers broadly on the basis of any four-year program of trade restriction.

As such, ACORE respectfully urges that the ITC focus on non-trade restrictive remedies to enhance U.S. manufacturing competitiveness. ACORE supports the measures proposed by SEIA. Such measures would not interfere with the fundamental economics and cost competitiveness of solar power and would work to promote investment, job creation, and U.S. competitiveness in one of the nation’s fastest growing and most important economic sectors."

For more information about the hearing, please visit: https://www.usitc.gov/calendarpad/events/usitc_hearing_crystalline_silicon_photovoltaic_.htm_0

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About ACORE
The American Council on Renewable Energy (ACORE) is a national non-profit organization leading the transition to a renewable energy economy. With hundreds of member companies from across the spectrum of renewable energy technologies, consumers and investors, ACORE is uniquely positioned to promote the policies and financial structures essential to growth in the renewable energy sector. Our annual forums in Washington, D.C., New York and San Francisco set the industry standard in providing important venues for key leaders to meet, discuss recent developments, and hear the latest from senior government officials and seasoned experts. For more information, visit the ACORE website and follow @ACORE on Twitter.

Media Contact:
Gil Jenkins
Vice President of Communications
jenkins@acore.org | 202.777.7584

Energy Industry Associations Call on FERC to Expand Deliberative Process Before Unprecedented Rulemaking

WASHINGTON, October 2, 2017 – A group of 11 energy industry associations representing natural gas, wind, solar, rural electric cooperatives and other energy technologies today filed a motion at the Federal Energy Regulatory Commission (FERC) following the Department of Energy’s (DOE) proposed rulemaking on grid resiliency pricing. In their motion, energy industry associations called on FERC to move forward with a deliberative process that considers stakeholder input as it determines whether and how to move forward with a rulemaking.

ACORE Statement on Department of Energy’s Proposed Rulemaking for the Grid Resiliency Pricing Rule

Statement by Todd Foley, ACORE Senior Vice President, Policy & Government Affairs

WASHINGTON, September 29, 2017 – “We’re concerned this proposed rulemaking uses grid resilience as an excuse to prop up plants that have not been shown to be needed, preventing consumers from buying the power they want to buy. On-site fuel power sources have not helped with severe weather events such as the Polar Vortex where coal piles froze, Hurricane Harvey where coal piles flooded, and the Fukushima event where the nuclear plant ceased to operate.

ACORE Statement on Senator Wyden’s Newly Introduced Legislation to Improve Grid Flexibility

Statement by Todd Foley, ACORE Senior Vice President, Policy & Government Affairs

WASHINGTON, September 28, 2017 – “We commend Senator Ron Wyden (D-OR) for his leadership in introducing legislation to promote a more reliable, efficient and flexible electricity grid.

This proposal would accelerate the development of important emerging technologies and processes that enable a more reliable, resilient and secure power system, including energy storage, improved electricity market design, and more dynamic communication and information flows.

Media Advisory: Future of Western U.S. Renewable Markets in Focus at ACORE Finance West

MEDIA ADVISORY acore logo small
September 25, 2017

 

Future of Western U.S. Renewable Markets in Focus at ACORE Finance West

WHAT: ACORE Finance West, coming up on Oct. 12 in San Francisco, convenes a select group of prominent renewable energy executives, investors, corporate purchasers and other top transactional professionals to create a roadmap for continuous finance and development of renewable energy in the Western U.S.

ACORE Statement on US International Trade Commission Decision on Remedies in Section 201 Case

Statement by Gregory Wetstone, American Council On Renewable Energy (ACORE), President and Chief Executive Officer

WASHINGTON, September 22, 2017 – “Today’s decision by the U.S. International Trade Commission (ITC) raises serious concern about the potential for tariffs that could increase electricity prices and threaten a thriving solar industry that is one of the nation’s most important economic drivers."

ACORE Statement on Key Findings and Recommendations of DOE Report on Electricity Markets and Grid Reliability

Statement by Gregory Wetstone, American Council On Renewable Energy (ACORE), President and Chief Executive Officer

WASHINGTON, August 23, 2017 - “We look forward to reviewing the full report in greater detail, and welcome the focus on the resilience and security of our electricity supply suggested in the report’s recommendations. There is little doubt that the increasing use of renewable energy has made the nation’s electrical grid more robust and secure.

Leading Clean Energy Organizations Announce National Clean Energy Week

WASHINGTON, August 16, 2017 - Today, leading clean energy organizations announced their participation in the first annual National Clean Energy Week (NCEW), which will take place from September 25-29, 2017. National Clean Energy Week will bring together industry associations, businesses, non-profits, and advocates in the clean energy space for activities in Washington, D.C. and across America to showcase how they are helping to make the industry stronger, and influence the discussion around common sense clean energy solutions that directly address America’s need for abundant, reliable forms of energy. 

ACORE’s Statement on Ohio’s Decision to Not Fix its Wind Setback Rule

WASHINGTON, June 28, 2017 - The American Council On Renewable Energy (ACORE) is disappointed by the decision of the Ohio Legislature to not include a modification to Ohio’s wind setback requirements in the budget bill. The existing setback, included in the budget bill in 2014, is among the most restrictive in the nation and serves as an effective moratorium on new wind development in the state. The common-sense policy modification proposed by the Senate would have enabled new wind development and attracted new investment to the state. Every day is now a lost opportunity to unleash over $4.2 billion in investment and economic development in Ohio and bring tangible benefits to communities, landowners, and ratepayers. Moreover, increasing the availability of in-state renewable power would help attract and retain corporations who are increasingly committed to powering their facilities and operations with renewables.

The American Council On Renewable Energy Announces New Members to its Board of Directors

Senior executives from EDF Renewable Energy and GE Energy Financial Services join Board of leading national renewable organization

WASHINGTON, June 27, 2017 – The American Council On Renewable Energy (ACORE) is pleased to announce the appointment of two new members to its Board of Directors: Jacob Susman, Vice President, Head of Origination at EDF Renewable Energy and Kevin Walsh, Managing Director, Group Head of Power and Renewable Energy at GE Energy Financial Services.

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