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Trump directs Treasury to limit wind and solar tax credits

UNITED STATES, JUL 08 – The executive order aims to phase out wind and solar tax credits rapidly, citing national security risks and potential grid reliability issues, with enforcement required within 45 days.

  • On July 7, Trump signed an executive order instructing the Treasury to tighten restrictions and enforce termination of energy tax credits under sections 45Y and 48E.
  • Trump's criticism of wind and solar as expensive and subsidy-dependent followed the One Big Beautiful Bill Act's prior incentive reductions, which the executive order enforces and tightens.
  • Treasury Secretary Scott Bessent is directed to more strictly define 'beginning of construction', narrow safe harbors and enforce FEOC restrictions on foreign-linked renewable projects.
  • The executive order prompted a selloff in solar stocks, with First Solar and Enphase Energy dropping as much as 5%.
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Trump’s crackdown on renewable energy has just begun

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President Donald Trump has already begun to deliver on one of the key promises he agreed with Republicans in the ‘Big, Beautiful Bill’ law: ending green energy subsidies.Read more]]>

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Newsmax broke the news in Washington, United States on Monday, July 7, 2025.
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