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Senate Budget Plan Threatens Future of Clean Energy

6/25/2025

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Summary

Story summary

The U.S. Senate Finance Committee's draft budget plan threatens the future of clean energy by phasing out tax credits for wind and solar projects beginning in 2026. New regulations will also limit credits for companies tied to foreign adversaries, while the standalone energy storage tax credit will vanish for projects initiated after December 31, 2024.

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Story summary

The U.S. Senate Finance Committee's draft budget plan threatens the future of clean energy by phasing out tax credits for wind and solar projects beginning in 2026. New regulations will also limit credits for companies tied to foreign adversaries, while the standalone energy storage tax credit will vanish for projects initiated after December 31, 2024.