Bila Solar has halted plans to expand its Indianapolis factory while Heliene and NorSun assess their own projects. Recent Republican decisions to end U.S. subsidies for solar and wind power are causing uncertainty in major clean energy investments. Research predicts solar and wind installations may drop by 17% and 20%, respectively, over the next decade. Rhodium estimates that up to $263 billion in facilities and $110 billion in manufacturing investments are at risk. Increasing industrial energy costs up to $11 billion by 2035 poses additional challenges for the energy sector.
"One of the administration's stated goals was to bring costs down, and as we demonstrated, this bill doesn't do that," said Ben King, a director in Rhodium's energy and climate practice.
Rhodium's research suggests that the law puts at risk $263 billion of wind, solar, and storage facilities and $110 billion of announced manufacturing investment.
Installations of solar and wind could be 17% and 20% lower than previously forecast over the next decade due to recent policy changes.
This policy will slash installations of renewable energy, kill investment and jobs in the clean energy manufacturing sector supporting them.
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