US Senate Panel Advances Bill to Phase Out Clean Energy Tax Credits
A US Senate committee has moved forward with legislation that would significantly reduce or eliminate key federal tax credits for solar, wind, storage, residential efficiency projects, and electric vehicles over the next few years. The 48E Investment Tax Credit for solar and wind is set to be phased down to 60% of its value by the end of 2026, 20% by the end of 2027, and eliminated for projects placed in service after 2028, while residential solar and EV credits would end just 180 days after the bill becomes law.[1]
House Passes Sweeping Bill Rolling Back Inflation Reduction Act Clean Energy Incentives
The US House has narrowly passed a major reconciliation package that aims to make permanent the 2017 tax cuts while rolling back multiple clean energy tax credits established by the Inflation Reduction Act. The bill moves to the Senate amid internal GOP disagreements, creating uncertainty over the future scope of clean energy incentives and regulatory policy.[3]
Sunnova Files for Bankruptcy Amid Residential Solar Industry Challenges
Sunnova Energy has filed for Chapter 11 bankruptcy protection, citing mounting debt, reduced demand, and a sharp cut to California solar incentives as primary factors. This marks the second high-profile residential solar bankruptcy this month, signaling ongoing turbulence and consolidation within the US distributed solar sector.[4]
DESRI Begins Construction on 205-MW Solar and Storage Project in Arizona
DESRI has started building the Catclaw Solar and Storage project in Buckeye, Arizona, which will feature 205 MW of solar capacity and a 1,000 MWh battery storage system. The project, expected online in 2026, will supply enough electricity for about 40,000 homes and includes a 20-year power purchase agreement with Arizona Public Service.[4]
Global Renewable Electricity to Surpass Coal Generation in 2025
According to the International Energy Agency, 2025 will see renewables-based electricity generation overtake coal as the world’s leading power source, driven by rapid deployment of solar and wind in China, the EU, and the US. New policies and ambitious national strategies are expected to further accelerate the global renewables transition in the coming years.[8]