"The report by research firm Rhodium Group and MIT shows the real-time scramble of clean-energy industries in response to President Trump rescinding a range of subsidies in the recent tax law. Driving the news: Clean-energy investments in the third quarter totaled $75 billion, according to the report. This was largely fueled by a surge in sales in zero-emission vehicles (mostly electric cars), which reached $31 billion, a 32% increase from the previous quarter. The federal EV tax credits expired at the end of the third quarter."
"Investments in the EV manufacturing sector, for example, dropped 30%, or $8 billion, compared to the same period last year. The big picture: So far, the Trump administration's policy repeals are slowing down, not wholly reversing, trends toward cleaner energy. Globally, EVs are rising in more countries even amid U.S. policy headwinds, though they remain heavily concentrated in China, the EU and U.S., according to a separate International Energy Agency study."
Clean-energy investments reached $75 billion in the third quarter, driven primarily by $31 billion in zero-emission vehicle sales, a 32% increase from the prior quarter. Federal EV tax credits expired at the end of the quarter. EV manufacturing investment declined 30%, or $8 billion, year-over-year. Companies announced $6 billion in new clean-energy manufacturing projects and canceled $2 billion, largely in EV and battery production. Policy repeals are slowing but not fully reversing clean-energy trends. Global EV adoption continues to grow, concentrated in China, the EU, and the U.S. Tax credits for heat pumps and distributed storage face year-end expiry.
Read at Axios
Unable to calculate read time
Collection
[
|
...
]