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![Over $22 billion worth of renewable power projects, including installations, power stations, and others, have been shelved in the first half of 2025, with over $6.7 billion in June, according to the Clean Economy Tracker and E2. The cancellations in June followed the ‘spurting business confusion in the wake of Congress taking the final actions in nearly ending the federal tax credits for clean energies.' The most recent cancellations affected five battery, storage, and electric vehicle facilities in the states of Colorado, Indiana, Michigan, New York, and Oregon, the paper said. Over 5,000 jobs fell prey to cancellations and retrenchments in June, bringing the total job losses to 16,500. These cancellations are not figs in an accounting ledger. They’re jobs, incomes, and opportunities in parts of states that would have used those clean projects to develop their home economies. And now they’re cancelled,” commented Michael Timberlake, communications director, E2. These Republican-voting districts have also experienced the majority of job losses, with 11,700 jobs cancelled, shelved, or closed so far in 2025. More than $ 11.7 billion in announced investments were cancelled in Republican-voting districts. Democratic districts experienced 6.1 billion in missed investment and nearly 4,000 jobs, E2 reported. "That Congress would vote so callously against the clean energy job incentives is bad enough, but that they voted them down in the absence of robust carbon pollution safeguards is unconscionable,” Timberlake said. Since the federal tax credits expire several years earlier than planned, U.S. projects for renewable energy will fall 41% after 2027, BloombergNEF (BNEF) states in a research paper. BNEF predicted that new wind, solar, and energy storage projects would decline by 23% to 2030, compared to a previous BNEF projection. Since the enactment of the Inflation Reduction Act of 2022, E2 reports that more than $133 billion in clean energy investments have been announced. It followed approximately $25 billion in cancellations within the same time frame, representing around 19% of the announced investment. Grid & EV battery storage projects have experienced the most cancellations since 2022, with some $13 billion per. Some $2.8 billion of solar projects have been cancelled, E2 reports. A study commissioned by FTI Consulting asserted that more than 100 GW of the planned solar and wind projects are now deemed non-viable following the passage of the Republican budget bill, the One Big Beautiful Bill Act. According to FTI Consulting, 54 GW, or 11% of queue project capacities for solar and wind, will be impacted through reductions in tax credits for projects queuing for the 2026-2029 years. The remaining 49 GW, or 43% of the projects lined up for 2030-2034, are now likely not viable, according to FTI Consulting. FTI Consulting also warned that shelving plans for clean energy would leave gaps in capacity, as the need for power is growing exponentially in the United States. "The power utilities will have to build alternatives less vulnerable to H.R. 1 [OBBBA] in a struggle to close the gaps of capacity. Without coordinated policy and regulatory support, the likelihood is, however, high that the United States power grid will not be able to weather the next phase of the technological and industrial transformation," FTI Consulting said.](data:image/svg+xml;nitro-empty-id=NzUxOjM3NjM=-1;base64,PHN2ZyB2aWV3Qm94PSIwIDAgMzM2IDIyMCIgd2lkdGg9IjMzNiIgaGVpZ2h0PSIyMjAiIHhtbG5zPSJodHRwOi8vd3d3LnczLm9yZy8yMDAwL3N2ZyI+PC9zdmc+)
Discover the most recent developments, breakthroughs, and updates in the solar industry. Our comprehensive coverage includes advancements in solar technology, industry trends, policy changes, market analysis, and expert insights.
