UN Report: Renewables Now Nearly Match Fossil Fuels in Global Power Capacity
A new United Nations report reveals that renewables now nearly equal fossil fuels in worldwide installed power capacity, with almost all new capacity added in 2024 coming from renewables. Clean energy accounted for nearly a third of global electricity generation and drove significant GDP growth in leading economies, while global clean energy jobs have reached 35 million, outnumbering fossil fuel jobs.[1]
Trump Administration Accelerates Phase-Out of Key Clean Energy Tax Credits
Following the passage of the One Big Beautiful Bill Act, solar and wind projects must begin construction by July 4, 2026 or be placed in service by December 31, 2027 to qualify for the Investment Tax Credit (ITC) or Production Tax Credit (PTC), a significant acceleration of prior phase-out timelines. President Trump has directed the Treasury to enforce a strict termination of these credits and issue new standards, with guidance expected by August 18, 2025, raising industry uncertainty about compliance and retroactivity.[6]
California Advances Green Hydrogen with Major Projects Amid Federal Regulatory Uncertainty
The Avina project in Vernon is set to become one of the largest hydrogen production and dispensing facilities in the U.S. this fall, while Element Resources is planning a $1.85 billion green hydrogen plant in Lancaster, CA, for 2027. The Los Angeles Department of Water and Power is also converting its largest gas-fired power plant to be hydrogen-ready, aiming for 100% renewable energy by 2035 despite regulatory headwinds.[3]
NYSERDA Launches 2026 Voluntary Tier 1 REC Pre-Sale to Support New York Clean Energy Targets
The New York State Energy Research and Development Authority has opened the 2026 Voluntary Tier 1 Renewable Energy Credit (REC) pre-sale, allowing commercial and institutional buyers to secure forward-priced RECs from in-state solar, wind, and hydro projects. The program aims to provide procurement certainty and help entities meet voluntary sustainability goals, with pricing details to be announced soon.[2]
U.S. Clean Energy Manufacturing Faces Setbacks as $22 Billion in Projects Cancelled or Scaled Back
Over $22 billion in new clean energy factories and projects were cancelled, closed, or downsized in the first half of 2025, reflecting ongoing turbulence in the sector. These setbacks affect a range of industries, including grid infrastructure, battery storage, and hydrogen, underscoring the challenges facing the domestic clean energy transition.[8]