Los Angeles Launches Eland Solar-Plus-Storage Center, One of Nation’s Largest Renewable Projects
The City of Los Angeles has completed the Eland Solar-plus-Storage Center, now one of the largest such installations in the United States, providing enough clean electricity to power over 266,000 homes and meeting 7% of the city’s energy needs. This project advances LA’s goal to reach 100% clean energy by 2035 and marks a major step forward in grid resilience and the reduction of fossil fuel reliance[1][5].
IRS Issues New “Begin Construction” Rules for Wind and Solar Tax Credits
On August 15, 2025, the IRS released Notice 2025-42, clarifying how wind and solar projects can establish they have begun construction to qualify for tax credits under the new rules of the One Big Beautiful Bill Act. The updated guidance tightens eligibility: developers must now show actual physical work (not just incur 5% of costs), and projects must be placed in service within four years to retain credit eligibility, with limited exceptions for small solar facilities[7].
Solar Stocks Rally as Treasury Guidance on Tax Credits Proves Less Restrictive Than Feared
Solar shares rose sharply after the Treasury Department’s August 15 guidance on clean energy tax credits was perceived as less severe than anticipated, despite tighter eligibility requirements. Investors responded positively, viewing the preserved funding pathways as a boost for companies able to adapt quickly to the new construction standards, signaling optimism in the sector despite ongoing regulatory headwinds[3].
UN Report Confirms Renewables Now Rival Fossil Fuels in Global Power Capacity
A new United Nations special report released in July 2025 highlights that renewables nearly match fossil fuels in total installed global power capacity, with almost all new electricity additions in 2024 coming from renewable sources. Clean energy sectors are also major economic drivers, accounting for significant GDP growth and providing more jobs worldwide than fossil fuels[4].
U.S. Political Shifts Heighten Risks for Renewable Energy Projects
Following passage of the One Big Beautiful Bill Act and executive orders from the Trump administration, clean energy developers now face heightened political and regulatory risks, including the repeal or restriction of key tax credits and pauses on offshore wind development. Industry experts urge developers to adopt robust risk management strategies, including political risk insurance and careful contract provisions, to navigate the evolving landscape[6].