The recently passed "One Big Beautiful Bill Act" in the House threatens to dismantle key components of the clean energy initiatives established under former President Biden. It stipulates that wind and solar projects must commence construction within 60 days or become operational within two years to qualify for tax credits. Furthermore, factories using Chinese materials will face exclusions from federal funding. Analysts forecast a potential 20% drop in wind, solar, and battery installations through 2040, and while some predict legislative adjustments in the Senate, the prevailing political trend is toward restricting clean energy efforts as climate change intensifies.
"If the bill goes through as the House has set it up, that is a pretty bleak scenario for the next few years, at least." - Sam Huntington, S&P Global.
"Many analysts think the bill's spending cuts will be watered down in the Senate."
"The U.S. policy direction is clear. As climate change accelerates, Republicans are slowing efforts to green the energy system."
"BloombergNEF has called the House bill the nightmare scenario for US clean energy advocates."
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