President Trump Signs Law Rolling Back Clean Energy Tax Credits
President Trump signed a budget reconciliation package on July 4, 2025, that significantly rolls back clean energy tax credits originally passed under the Inflation Reduction Act. The new law requires most wind and solar projects to begin service by 2027 to qualify for credits, phases out the electric vehicle tax credit by September 2025, and tightens timelines for energy efficiency incentives, moves that are expected to reduce clean energy deployment and raise household energy bills nationwide by an average of 7.3%[7].
Global Renewable Energy Capacity Hits Record High but Pace Still Insufficient
According to IRENA, 2024 saw the addition of 582 GW of new renewable capacity, the largest annual increase on record, with Asia accounting for the majority of growth. Despite this rapid expansion, the global rate of deployment remains below the level needed to meet the target of tripling installed renewable power capacity to 11 TW by 2030[2].
Tracking SDG7 Report Warns Energy Access Progress Is Too Slow
The 2025 Tracking SDG7: Energy Progress Report reveals that 666 million people still lack electricity, only 19 million fewer than the previous year, and 2.1 billion people remain dependent on polluting fuels for cooking. The report warns that unless investments accelerate and clean energy access improves, global climate and development goals will not be met[3].
GE Vernova to Supply Turbines for Major Spanish Wind Project
GE Vernova has signed an agreement to provide eight 6.1-MW turbines to Forestalia for a 49-MW onshore wind project in Aragón, Spain. This project supports Spain’s goal of installing 62 GW of wind capacity by 2030, aiming for renewables to generate over 80% of the nation’s electricity by the decade’s end[1].
Iraq Commissions First Fully Solar-Powered Village
The Rwanga Foundation announced the completion of Iraq’s first fully off-grid, solar-powered village, the Kulak Solar Village, which integrates renewable energy with sustainable agriculture and solar-powered irrigation. The project is seen as a model for regional expansion, with plans to replicate it across Kurdistan and central Iraq by 2030 as part of the Green Kurdistan campaign[1].
New Mexico Approves New 150-MW Solar Plant
A 150-MW solar power plant has been approved in New Mexico, reflecting the continuing expansion of large-scale solar projects in the United States. This development is part of a broader trend of increased investment and deployment in renewable energy infrastructure across the country[5].
New York State Announces 2026 Voluntary REC Pre-Sale Program
The New York State Energy Research and Development Authority