US Renewable Energy Capacity Poised to Overtake Natural Gas by 2029
A review of new Federal Energy Regulatory Commission data shows that nearly 96% of new US electrical generating capacity added in the first third of 2025 came from solar and wind, with solar accounting for 87% of new capacity in April alone. If current trends continue, total US renewable energy capacity could surpass that of natural gas within three years, marking a significant shift in the nation’s energy mix.[1]
US Tax Law Scales Back, but Preserves, Key Renewable Energy Incentives
On July 4, 2025, the “One Big, Beautiful Bill Act” was signed into law, scaling back some renewable energy tax provisions but allowing solar and wind projects to qualify for tax credits if they begin construction before July 4, 2026, even with later completion dates. Other technologies like battery storage and advanced nuclear retain more favorable timelines, and the law also allows hydrogen storage and carbon capture to qualify for master limited partnership investment, potentially increasing capital access for these sectors.[3]
$22 Billion in Clean Energy Projects Cancelled in First Half of 2025
According to E2, the first half of 2025 saw $22 billion in clean energy projects cancelled, including $6.7 billion in June alone, resulting in over 5,300 lost jobs. These cancellations reflect ongoing investment challenges in the sector, despite strong underlying growth in renewables.[4]
Iraq Commissions Its First Fully Solar-Powered Village
The Rwanga Foundation announced the completion of the Kulak Solar Village, Iraq’s first fully off-grid, solar-powered community, which integrates renewable energy with sustainable agriculture and solar-powered irrigation systems. The project is intended as a model for further expansion across Kurdistan and central Iraq by 2030 under the Green Kurdistan campaign.[6]
Long Duration Energy Storage (LDES) Highlighted as Critical for Renewable Integration
At London Climate Action Week, the World Business Council for Sustainable Development released a report emphasizing that large-scale deployment of long duration energy storage is essential to manage renewable intermittency and ensure reliable, decarbonized energy systems. Scaling LDES is identified as crucial for achieving the global goal of tripling renewable capacity by 2030 and for reducing overall electricity costs.[7]