one big beautiful bill

Legislation withdrawing vital tax credits has plunged the US solar market into turmoil, putting project deployments and manufacturing at risk.

US solar module manufacturer First Solar saw sales and net profits increase in Q2 2025, as it forecasts a strong performance under the Trump administration’s industrial and trade policy changes.

First Solar has completed a deal to sell US$391 million in tax credits, bringing its total tax credit sales this year to over US$1.5 billion.

Analyst Wood Mackenzie has forecast that solar PV and wind installations in the US will be 100GW lower than expected between 2025 and 2030 with the removal of Inflation Reduction Act (IRA) incentives.

A report published by the US Department of Energy (DOE) this week claims that the previous government’s support for renewable energy could cause blackouts to “increase by 100 times” by 2030.

Donald Trump has issued an executive order to tighten restrictions on renewable energy tax credits just days after signing his “One, Big Beautiful Bill” act into law, which significantly cut federal support for renewables.

The US House of Representatives has passed the final version of the reconciliation bill that is now going to US President Donald Trump’s desk for his signature before its passing.

The US Senate has narrowly passed – with a 51-50 vote and with vice-president JD Vance breaking the tie – the reconciliation bill yesterday (1 July) without the solar and wind excise tax.

Voting on the US tax reconciliation bill is expected to begin in the Senate today, following a draft published on Friday that hit clean energy tax credits hard.

As our annual PV ModuleTech USA event kicks off in Napa, California next week, “uncertainty” is the watchword for the US solar industry.