Senate bill hastens end of wind, solar tax credits and imposes new tax
- The Senate voted Tuesday to pass an amended Republican budget megabill that significantly curtails clean energy tax credits.
- The Senate bill, driven by Trump's fossil fuel agenda, rolls back clean energy incentives and imposes a new tax on projects using Chinese components.
- Analysis by Cleanview indicates new capacity would be reduced to just over 14 GW, threatening to eliminate approximately 500 GW of future energy generation potential.
- Following the Senate vote, NABTU warns of job losses and higher bills, with North Carolina facing a ~20% increase in electricity costs over five years.
- In the long run, BloombergNEF projects a decline in renewable capacity after 2029 and an increase of 3.8 million tons of carbon emissions by 2050 due to the bill's restrictions.
106 Articles
106 Articles
Senator sounds alarm over secretive tax change discovered last minute in 'Big Beautiful Bill': 'It will create uncertainty and freeze the markets'
Lawmakers and business leaders spoke out after potentially devastating new provisions to hobble clean energy efforts on two fronts were quietly slipped into a sweeping "megabill" — and strangely, Senators from both sides of the aisle claimed ignorance about the origins. What's happening? In mid-May, the "One Big Beautiful Bill Act" was introduced in the House of Representatives and has since meandered through both chambers of Congress, with lawm…
First Solar has big stake in outcome of Trump budget battle
One of the Toledo area’s biggest employers is waiting to see if the budget that President Trump signs into law ultimately includes the Republican-led plan to phase out tax credits for wind, solar, and other renewable energy sources.
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