More than $14 billion in green energy projects have been delayed or canceled so far in 2025 as the Trump administration and its allies move to roll back former President Joe Biden’s sprawling climate agenda, according to new analysis released Thursday.
Congressional Republicans are looking to restrict Inflation Reduction Act (IRA) subsidies for green projects while the Trump administration slashes big-budget climate grants, leading companies that once had big ambitions to postpone or cancel their green energy developments outright. Although many investments spurred by the IRA were canceled before 2025, $14 billion worth of projects have been canceled or delayed so far this year, with $4.5 billion nixed or pushed back in April alone, according to an analysis on projects tracked by the nonpartisan group E2 in partnership with the Clean Economy Tracker.
“If the tax plan passed by the House last week becomes law, expect to see construction and investments stopping in states across the country as more projects and jobs are cancelled,” E2 Communications Director Michael Timberlake wrote in a statement to the Daily Caller News Foundation. (RELATED: House Passes Trump’s ‘One Big, Beautiful Bill’ In Massive Victory For Speaker Johnson)
U.S. President Joe Biden delivers remarks on the November jobs report in the State Dining Room of the White House on December 03, 2021 in Washington, DC. (Photo by Anna Moneymaker via Getty Images)
Excluding any cancellations, $132 billion in projects have been announced since the passage of the IRA, excluding canceled development plans, according to the analysis. Since Congress passed Biden’s IRA, 45 announced projects have been canceled, shut down or scaled back, with $16.7 billion in investment tied to these abandoned initiatives, according to E2.
Companies canceled or otherwise delayed $4.5 billion in investments for new battery, electric vehicle and wind projects in April ahead of the House’s passage of the GOP’s reconciliation bill, according to the analysis. The Republican megabill could severely limit or eliminate federal solar, wind, electric vehicle (EV) and battery tax credits if Senate Republicans can muster the will to do so, though several members have already signaled opposition to a total repeal of the credits.
The Biden administration pushed for the development of green energy infrastructure with lucrative tax credits and subsidies contained in the IRA, which was initially projected to unlock nearly $400 billion worth of tax credits in 2022. Later estimates indicated that the costs could skyrocket above $1 trillion over 10 years, in the case of the Goldman Sachs analysis, while the Cato Institute projected in a March report that IRA tax credits could cost as much as $4.7 trillion by 2050.
President Donald Trump ran against the Democrats’ climate agenda, which he has termed the “Green New Scam,” and declared a national energy emergency to boost conventional energy production upon taking office in January. Since then, Trump has also signed numerous executive orders to pave the way for affordable and reliable energy technology such as nuclear and coal to thrive in the private sector.
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