Clean energy developers canceled $1.4 billion in projects in May, underscoring the challenges facing the renewable energy, electric vehicle and battery industries as Congress weighs rolling back Biden-era tax credits.
The number of scrapped projects in the first five months of 2025 was double what it was in all of 2024, according to clean energy business group E2. Clean energy investment losses since January total $15.5 billion — seven times higher than the total for last year.
“The consequences of continued policy uncertainty and the expectation of higher taxes on clean energy businesses are becoming painfully clear,” said Michael Timberlake, a spokesperson for E2.
The numbers indicate that the trajectory for clean energy has largely flip-flopped since January, when President Donald Trump took office. Each month now typically sees canceled investments that reach or surpass the monthly amount of new investments seen in 2024.
