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Republican senators seek to change Senate bill clean energy tax, improve tax credits

UNITED STATES, JUL 2 – Senate Republicans seek to end subsidies for wind and solar by 2027 and impose new taxes on projects using Chinese components, risking millions of jobs and billions in investments.

  • Senate Republicans are pushing a bill to impose an excise tax on wind and solar projects sourcing from China, with a vote scheduled for Monday.
  • Senate Republicans' push to offset 2017 tax cuts led to a bill that slashes green energy spending and boosts fossil fuel production, fulfilling President Trump’s energy agenda.
  • According to the American Clean Power Association, the tax hike could add $4–7 billion in costs, threatening 300 GW of projects and hundreds of thousands of jobs.
  • Following the bill’s release, shares of NextEra Energy dropped 2%, Array Technologies fell 8%, Enphase lost nearly 2%, and Nextracker tumbled 5%, signaling industry concern.
  • Future estimates indicate that if the bill passes without revisions, wholesale electricity prices could rise 19% by 2030 and 61% by 2035, risking U.S. competitiveness and clean energy progress.
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Republican budget bill dismantles climate law passed by Democrats

The sprawling Republican budget bill approved by the Senate Tuesday removes a proposed tax on solar and wind energy projects but quickly phases out tax credits for wind, solar and other renewable energy.

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West Hawaii Today broke the news in on Monday, June 30, 2025.
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