More than $14 billion in US clean energy projects and 10,000 announced jobs have been canceled in 2025, with further losses expected if the “Big, Beautiful Bill” advances in the US Senate, according to E2.
From pv magazine USA
The US Inflation Reduction Act (IRA) of 2022 launched a 10-year clean energy industrial policy, but core elements now face repeal under the “Big, Beautiful Bill.” The House of Representatives approved the bill, and the Senate will vote next.
Unprecedented announcements in US clean energy followed the 2022 law. E2 tracks these announcements in its Clean Economy Works report. Since the IRA was passed, over 390 clean energy projects in 42 states representing over $130 billion in investment and 120,000 jobs have been announced, according to the report.
However, if the Senate passes the budget resolution as-written, core elements of the IRA, including the Investment Tax Credit and Production Tax Credit, will be repealed for projects not placed in service by 2028. This ends critical clean energy industrial policy support about five years ahead of schedule.
This uncertainty, combined with uncertainty surrounding tariff rates and enforcement, has led to a growing number of cancelled projects and factories. E2 said $14 billion in clean energy projects and 10,000 jobs have been cancelled in 2025. About $4.5 billion in cancellations occurred in April alone, said E2.
“Now is not the time to raise taxes on clean energy and compound the business uncertainty that is clearly taking a greater and greater toll on US manufacturing and jobs,” said Michael Timberlake, director of communications at E2.
Most of the canceled investments occurred in Republican districts. Democratic House members unanimously voted against the budget bill, but it was approved by a razor-thin majority due to strong Republican support.
More than $12 billion in investment and 13,000 jobs have been cancelled in Republican voting districts thus far, said E2. Through April, over 61% of all clean energy projects announced – along with 72% of all jobs and 82% of all investments – are in congressional districts represented by Republicans.
“Businesses are now counting on Congress to come to its senses and stop this costly attack on an industry that is essential to meeting America’s growing energy demand and that’s driving unprecedented economic growth in every part of the country,” said Timberlake.
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