$14B in EV, renewable projects scrapped as tax credit fears grow
More than $14 billion in US renewable and EV investments and 10,000 new jobs have been scrapped or put on hold since January, according to a new analysis from E2 and the Clean Economy Tracker. The reason: growing fears that the Republican-majority Congress will pull the plug on federal clean energy tax credits.
In April alone, companies backed out of $4.5 billion in battery, EV, and wind projects right before the House passed a sweeping tax and spending bill that would gut the federal tax incentives fueling the clean energy boom. E2 also found another $1.5 billion in previously unreported project cancellations from earlier in the year.
Now, with the Senate preparing to take up the so-called “One Big Beautiful Bill Act,” E2 says over 10,000 clean energy jobs have already vanished.
“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,” said Michael Timberlake, E2’s communications director. “Businesses are now counting on Congress to come to its senses and stop this costly attack on an industry that is essential to meeting America’s growing energy demand and that’s driving unprecedented economic growth in every part of the country.”
Ironically, it’s Republican-led congressional districts – the biggest beneficiaries of the Biden administration’s clean energy tax credits passed in 2022 – that are feeling the most pain. So far, more than $12 billion in investments and over 13,000 jobs have been canceled in GOP districts.
Through April, 61% of all clean energy projects, 72% of jobs, and 82% of investments have been in Republican districts.
Despite the rising number of cancellations, some companies are still forging ahead. In April, businesses announced nearly $500 million in new clean energy investments across six states. That includes a $400 million expansion by Corning in Michigan to make solar wafers, which is expected to create at least 400 jobs, and a $9.3 million investment from a Canadian solar equipment company in North Carolina.
If completed, the seven projects announced last month could create nearly 3,000 permanent jobs.
To date, E2 has tracked 390 major clean energy projects across 42 states and Puerto Rico since the Inflation Reduction Act passed in August 2022. In total, companies plan to invest $132 billion and hire 123,000 permanent workers.
But the report warns that momentum could grind to a halt if the House tax plan becomes law. Since the clean energy tax credits were signed into law, 45 announced projects have been canceled, downsized, or closed entirely, wiping out nearly 20,000 jobs and $16.7 billion in investments.
What’s more, Trump’s Department of Energy announced today that it was killing more than $3.7 billion in funding for carbon capture and sequestration (CCS) and decarbonization initiatives. Eighteen out of 24 projects were awarded through DOE’s Industrial Demonstrations Program (IDP), which was made law in the Inflation Reduction Act. It aimed to strengthen the economic competitiveness of US manufacturers in global markets demanding lower carbon emissions, while supporting US manufacturing jobs and communities.
Executive Director Jason Walsh of the BlueGreen Alliance said in a statement in response to today’s DOE announcement:
The awarded projects that DOE is seeking to kill are concentrated in rural areas and red states. American manufacturers are hungry to partner with the federal government to bolster US industry. The IDP saw $60 billion worth of applications during the program selection process, a ten-times oversubscription.
President Trump claims to be a champion of American manufacturing, but today’s announcement is further evidence that he and his Secretary of Energy are liars.
Read more: Global energy giant RWE halts US offshore wind because of Trump
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Environment
Trump administration is convinced massive Alaska energy project will find investors despite steep cost
The Trump administration is confident that a massive liquified natural gas project in Alaska will find investors despite its enormous cost.
President Donald Trump has pushed Alaska LNG as a national priority since taking office. Alaska has already spent years trying to build an 800-mile pipeline from the North Slope above the Arctic Circle south to the Cook Inlet, where the gas would be cooled and shipped to U.S. allies in Asia.
But Alaska LNG has never gotten off the ground due to a stratospheric price tag of more than $40 billion. Trump has pushed Japan and South Korea in particular to invest in the project, threatening them with higher tariffs if they don’t offer trade deals that suit him.
“If you get the commercial offtakers for the gas, financing is pretty straightforward,” Energy Secretary Chris Wright told CNBC’s Brian Sullivan in Prudhoe Bay, Alaska. “There [are] countries around the world looking to shrink their trade deficit with the United States, and of course, a very easy way to do that is to buy more American energy,” Wright said.
Energy analysts, however, are skeptical of the project. Alaska LNG “doesn’t have a clear cut commercial logic,” Alex Munton, director of global gas and LNG research at Rapidan Energy, told CNBC in April.
“If it did, it would have had a lot more support than it has thus far, and this project has been on the planning board for literally decades,” Munton said.
Defense Department support
Wright said the project would be built in stages and initially serve domestic demand in Alaska, which faces declining natural gas supplies in the Cook Inlet. Interior Secretary Doug Burgum said the Department of Defense is ready to support the project with its resources.
“They’re ready to sign on to take an offtake agreement from this pipeline to get gas to our super strategic, important bases across Alaska,” Burgum said of the Pentagon in a CNBC interview at Prudhoe Bay.
Alaska LNG, if completed, would deliver U.S. natural gas to Japan in about eight days, compared to about 24 days for U.S. Gulf Coast exports that pass through the congested Panama Canal, Burgum said. It would also avoid contested waters in the South China Sea that LNG exports from the Middle East pass through, the interior secretary said.
Wright said potential Asian investors have questions about the timeline and logistics of Alaska LNG. The pipeline could start delivering LNG to southern Alaska in 2028 or 2029, with exports to Asia beginning sometime in the early 2030s, Wright said.
Glenfarne Group, the project’s lead developer, told CNBC in April that a final investment decision is expected in the next six to 12 months on the leg of a proposed pipeline that runs from the North Slope to Anchorage. Glenfarne is a privately-held developer, owner and operator of energy infrastructure based in New York City and Houston.
![Meyer Burger just shut down its US solar factory and laid off 282 workers [Update]](https://i0.wp.com/electrek.co/wp-content/uploads/sites/3/2023/05/Meyer-Burger-Goodyear.jpg?resize=1200,628&quality=82&strip=all&ssl=1)
Swiss solar manufacturer Meyer Burger has pulled the plug on its US solar module factory in Arizona and laid off nearly 300 workers; now, there’s more bad news.
June 2, 2025: On Saturday, May 31, Meyer Burger announced that its subsidiaries in Germany have each filed for insolvency proceedings. As we wrote below last week, the employees in Hohenstein-Ernstthal in Saxony and Bitterfeld-Wolfen in Lower Saxony were furloughed last year, but they’ve now been laid off.
Meyer Burger Germany in Hohenstein-Ernstthal employs 289 people in mechanical engineering and technology development. Meyer Burger Industries’ solar cell factory in Bitterfeld-Wolfen employs 331 people.
Subsidiary Meyer Burger (Switzerland) AG, which employs around 60 people in Thun, will remain in operation. Meyer Burger (Americas) Ltd. will also remain a company.
Due to ongoing financing discussions on restructuring, the company has requested an extension of the deadline for presenting its 2024 financial results, which expires today.
May 30, 2025: On May 29, all 282 remaining employees at the Goodyear, Arizona, factory received termination notices, and operations were shut down immediately. The site was still in its ramp-up phase and had a planned annual production capacity of 1.4 gigawatts. Meyer Burger had just started assembling solar cells imported from its factory in Germany.
The company says it’s been forced to shut down the US plant due to a lack of funding. The future of the Goodyear facility is now uncertain.
Meyer Burger is currently in talks with bondholders as it tries to restructure debt tied to two convertible bonds that mature in 2027 and 2029. Those bonds were issued by its subsidiary MBT Systems GmbH and guaranteed by the parent company.
It’s unclear what this means for Meyer Burger’s factories in eastern Germany, a company spokesperson told German press agency dpa. Around 300 employees at each site, in Hohenstein-Ernstthal in Saxony and Bitterfeld-Wolfen in Lower Saxony, were furloughed last year.
Meyer Burger has struggled for a few years, in no small part due to competition from cheaper Chinese solar imports. In 2024, it cut around 20% of its 1,000-person workforce, even as it moved ahead with US expansion plans. In December, the company secured nearly $40 million in bridge financing from creditors to keep things afloat, but that money appears to have run dry.
Meyer Burger says it will share more information as it becomes available.
Read more: Meyer Burger abandons German solar cell factory plans to build a US factory instead
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That’s not a typo. Lucid (LCID) is offering over $31,000 off select 2025 Air models this month as part of the EV maker’s strongest promotions so far.
Lucid Air EV gets over $31,000 in discounts this June
The Lucid Air is an impressive car inside and out. It’s not only pretty looking, but the 2025 Lucid Air is the “world’s most efficient car” with over 420 miles of EPA-estimated driving range and the highest MPGe rating of any EV at 146 MPGe.
This month, you can snag some serious savings on the luxury electric sedan with Lucid launching its largest discount program yet.
The 2025 Lucid Air is now available with up to $31,500 in discounts. The offer includes a $2,000 On-Site bonus, a $2,000 conquest bonus, a $20,000 Air Credit, and a $7,500 EV Credit. That’s for the Air Grand Touring trim with $6,819 due at signing.
Lucid is offering a generous $26,500 and $21,500 off the Touring and Pure trims, respectively. The discounts are up significantly from last month.
In May, the 2025 Lucid Air Grand Touring was listed with a $15,500 discount, while the Touring and Pure models had discounts of $20,500 and $18,000, respectively.
If you drive a Tesla, you save an additional $4,000. Lucid sweetened the deal for Tesla drivers last month, doubling its trade-in bonus.
Lucid’s offers end on June 30, 2025. You will need to take delivery by then to be eligible. The 2025 Lucid Air Grand Touring starts at $110,900, with 819 hp and 512 miles range. The base Air Pure trim starts at $69,900, with 430 hp and 420 miles range.
For those of you looking for something a bit larger, you might want to check out Lucid’s first electric SUV, the Gravity.
2025 Lucid Air trim |
Starting Price | Lease Discounts | Lease From (per month/ 36 months) |
EPA-estimated Range |
| Lucid Air Pure | $69,900 | -$18,000 | $579 | 420 miles |
| Lucid Air Touring | $78,900 | -$20,500 | $599 | 406 miles |
| Lucid Air Grand Touring | $110,900 | -$15,500 | $849 | 512 miles |
| Lucid Air Sapphire | $249,000 | N/A | N/A | 427 miles |
The Gravity fits seven comfortably and boasts a driving range of up to 450 miles. According to Lucid’s payment calculator, the 2026 Lucid Gravity Grand Touring can be leased for around $1,100 a month.
The offer is based on the GT’s MSRP of $94,900 with a down payment of $8,030. Later this year, the Touring model will be available, starting at $79,900.
With over $31,000 in discounts, Lucid is launching its largest promotions to date. If you’re ready to check out the luxury EVs for yourself, you can use our links below to find current offers on Lucid Air and Gravity models near you.
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