Inflation Reduction Act

Companies delayed or cancelled US$14 billion in investments in clean energy projects in the US in the first four months of this year.

Arevon Energy has finalised US$98 million in tax equity financing for a 265MW portfolio currently under construction in Indiana.

ISC Konstanz is working with US solar cell manufacturer Suniva on its 1GW silicon solar cell production facility in the state of Georgia.

The US House of Representatives has passed a bill slashing tax credit provisions for clean energy projects.

ANALYSIS: The language of the Ways & Means Committee tax bill leaves massive uncertainty for US solar manufacturing.

Changes to tax credits under the Inflation Reduction Act (IRA) could “jeopardise” nearly 300 US solar and energy storage manufacturing facilities, according to trade body the Solar Energy Industries Association (SEIA).

Four Republican US senators have signed an open letter urging a “stable and predictable” approach to US energy tax credits.

The president said the move was “necessary to advance the policy of the United States to restore common sense to the Federal Government."

Uncertainty over tax credits could cause 84% of investors and 73% of developers to decrease their activity in renewable energy, according to ACORE.

Solar and storage projects accounted for 84% of electricity generating capacity added in 2024, with solar seeing 50GW of new capacity.