US EditionTax bill passed by House Republicans would gut Biden-era clean energy tax credits
- The House of Representatives passed a tax and spending bill on May 22, 2025, in Washington that cuts clean energy tax credits and opens public lands for resource extraction.
- The bill aims to repeal or phase out subsidies established by the 2022 Inflation Reduction Act, a Biden-era law supporting renewable energy like wind and solar.
- The legislation reduces or eliminates tax credits for rooftop solar, electric vehicles after 2025, and restricts projects linked to foreign entities, including China, while removing a proposed sale of 460,000 acres of public land in Nevada and Utah.
- Shares of solar companies plunged with Sunrun down nearly 41%, SolarEdge about 26%, and Enphase nearly 18%, while analysts called the bill a "sledgehammer" to clean energy incentives and stressed the threat to economic and climate goals.
- The bill now moves to the Senate, where some Republican senators, led by Lisa Murkowski, advocate preserving energy credits amid concerns about disruption to jobs, investment, and the US energy leadership position.
170 Articles
170 Articles
Schumer says reconciliation bill’s energy measures amount to a ‘surrender’ to China
The budget bill passed this week by the Republican-controlled House would end some clean energy incentives and projects, Democrats and industry groups are warning -- and they say the winner will be China. The tax and spending package would roll back clean energy tax credits established by the Inflation Reduction Act. It also was changed at the last minute to require that new renewable energy power plants begin construction within 60 days of the …
Jen Kiggans Takes a “Sledgehammer” to Virginia Beach’s Energy Industry
Kiggans spent weeks posturing as a moderate who would protect energy tax credits – only to turn around and cast the deciding vote to cut them Will the real Jen Kiggans please stand up? After pledging for weeks that she would not support cutting clean energy tax credits, Jen Kiggans sold out her constituents by casting the deciding vote to take a “sledgehammer” to Virginia beach’s energy industry. Kiggans herself previously warned that the bill…
House Republicans Just Dealt a Blow to Wind Developers
This story was produced as part of a partnership between THE CITY and NOTUS, a publication from the nonprofit, nonpartisan Allbritton Journalism Institute.Renewable energy advocates received some small wins from the Trump administration on offshore wind development. But the House-passed budget reconciliation bill could present a new set of problems.The bill that passed the House on Thursday makes sweeping changes to the structure of tax credits …
Solar Companies Burned by Clean-Energy Cuts
Photo by Kateryna Hliznitsova via UnsplashThis story was originally published on The Daily Upside. To receive delivering razor sharp analysis and perspective on all things finance, economics, and markets, subscribe to our free The Daily Upside newsletter.Solar stocks will need a lot of aloe vera to recover from the burn they suffered when the US House of Representatives passed a bill gutting clean-energy incentives. Home solar-panel installer Su…
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