Los Angeles Completes One of Nation’s Largest Solar-Plus-Storage Projects
The Eland Solar-plus-Storage Center, completed in Mojave, will generate enough clean energy to power over 266,000 Los Angeles homes and push the city’s clean energy share above 60%, marking a major step toward its goal of 100% clean energy by 2035[1]. The project combines 400 MW of solar with 1,200 MWh of battery storage, allowing solar energy to be distributed during peak demand and night-time hours[1].
IRS Issues New Construction Guidance for Clean Energy Tax Credits
On August 15, the IRS released Notice 2025-42, clarifying the requirements for wind and solar projects to qualify for federal tax credits under the One Big Beautiful Bill Act[5]. The guidance tightens rules around what constitutes “beginning construction,” eliminating the standard 5% safe harbor for most projects and requiring more direct physical work to qualify; facilities must be placed in service within four years of starting construction[5].
Renewable Power Purchase Agreement Prices Rise Sharply After Federal Tax Credit Changes
U.S. wind and solar PPA prices have increased by 4% since the passage of the One Big Beautiful Bill Act, with some developers raising offers by up to $20/MWh for projects starting construction before year-end[3]. Nearly a third of developers plan to suspend or cancel projects due to the phase-out of federal tax credits, and future projects are expected to be more expensive as buyers rush to lock in supply[3].
World Bank Approves Major Financing for Türkiye’s Grid Modernization and Renewable Expansion
The World Bank and Clean Technology Fund have approved a EUR 625 million loan for Türkiye’s Transforming Power Transmission System Project, part of a broader strategy to reach 120 GW of wind and solar capacity by 2035[6]. The funding will help modernize and expand transmission infrastructure, supporting Türkiye’s net-zero goal for 2053 and boosting energy security and job creation