Trump Administration Halts Major Offshore Wind Project as Clean Energy Policies Tighten
The Trump administration has stopped construction on an 80% complete offshore wind farm, signaling a sharp escalation in federal opposition to large-scale renewable energy projects.[7] This move follows broader efforts by the administration to limit clean energy development and prioritize fossil fuel expansion, raising concerns among industry advocates about job losses and higher energy costs.[1]
IRS Issues New Guidance Severely Limiting Clean Energy Tax Credits for Wind and Solar
The U.S. Treasury and IRS released Notice 2025-42, which restricts how wind and solar developers can qualify for federal tax credits, narrowing the eligibility criteria and imposing stricter deadlines for construction.[6] Projects must begin construction before July 5, 2026, or be placed in service by December 31, 2027, or they will lose access to the Section 45Y and 48E credits, with the 5% Safe Harbor now only available to small solar facilities under 1.5 MW.[8]
U.S. Sets Record Pace for Solar and Storage Additions, Led by Texas
Developers added 12 GW of new utility-scale solar capacity in the first half of 2025, with plans to add another 21 GW by year’s end, putting the U.S. on track for a record 64 GW of new capacity—over half from solar.[2] Texas continues to lead, accounting for 27% of new solar installations so far this year and expected to bring nearly 10 GW more online by December.[2]
UN Report: Renewables Near Parity with Fossil Fuels in Global Power Capacity
A new United Nations report highlights that renewables now almost match fossil fuels in installed global power capacity and delivered nearly a third of global electricity in 2024.[5] The report credits renewables with driving significant GDP growth and employment worldwide, underscoring the economic and environmental rationale for continued clean energy investment.[5]
Accelerated Sunset of Federal Clean Energy Tax Credits Creates Uncertainty for U.S. Projects
The “One Big Beautiful Bill Act” (OBBBA) accelerates the termination of key solar and wind tax credits, requiring projects to begin construction by July 4, 2026, or be operational by the end of 2027 to qualify.