Senate Passes Budget Megabill Curtailing Clean Energy Tax Credits, Drops Wind and Solar Excise Tax
The U.S. Senate passed an amended Republican budget megabill that significantly reduces the scope of clean energy tax credits but ultimately removed a controversial excise tax on wind and solar projects. The new bill sets a phaseout deadline for wind and solar tax credits for projects placed in service after 2027 but includes a carve-out for projects that begin construction within one year after the bill’s enactment, providing short-term relief for the industry as the legislation heads to the House and potentially to President Trump’s desk by the end of the week[8][4].
Over $14 Billion in Clean Energy Projects Canceled or Delayed in 2025 Amid Policy Uncertainty
More than $14 billion in clean energy projects have been canceled or delayed in 2025, with battery storage and electric vehicle manufacturing sectors hit hardest. Factors include pending changes to key renewable energy tax credits, tariffs, inflation, and market conditions, with most cancellations occurring in Republican-led states that had previously benefited from clean energy investments[5].
GE Vernova to Supply Forestalia with Turbines for 49-MW Spanish Wind Project
GE Vernova’s Wind segment announced a deal to provide Forestalia with eight 6.1-MW wind turbines for a 49-MW onshore project in Aragón, Spain. This agreement supports Spain’s national goal of installing 62 GW of wind capacity by 2030, part of a broader push to generate over 80% of electricity from renewable sources by the decade’s end[1].
Iraq Commissions First Fully Solar-Powered Village
The Rwanga Foundation announced the completion of Kulak Solar Village, Iraq’s first fully off-grid solar-powered community, which integrates renewable electricity with sustainable agriculture and solar-powered irrigation. The project is seen as a model for regional replication, supporting the Green Kurdistan campaign with plans to expand this approach across Kurdistan and central Iraq by 2030[1].
Report Highlights Need for Massive Scale-Up of Long-Duration Energy Storage to Enable Renewables
A new brief released at London Climate Action Week stresses that scaling long-duration energy storage (LDES) is essential to address the intermittency of renewables and unlock their full potential. LDES combined with renewables is identified as critical for building resilient, decarbonized grids and achieving the global goal of tripling renewable energy capacity by 2030[6].