"A new report indicates that Trump administration policies led to billions of dollars in canceled investment and tens of thousands of lost jobs."
"For more than a decade, the clean energy economy has been on a steep growth trajectory. Companies have poured billions of dollars into battery manufacturing, solar and wind generation, and electric vehicle plants in the U.S., as solar costs fell sharply and EV sales surged. That momentum is set to continue surging in much of the world — but in the United States, it’s starting to stall.
According to a new report from the clean energy think tank E2, new investment in clean energy projects last year was dwarfed by a cascade of cancellations for projects already in progress. For every dollar announced in new clean energy projects, companies canceled, closed, or downsized roughly three dollars’ worth. In total, at least roughly $35 billion in projects were abandoned last year, compared to just $3.4 billion in cancellations in 2023 and 2024 combined.
“That’s pretty jarring considering how much progress we made in previous years,” said Michael Timberlake, a director of research and publications at E2. “The rest of the world is generally doubling down or transitioning further, and the U.S. is now becoming increasingly combative and antagonistic towards clean energy industries.”
Timberlake said the Trump administration’s attacks on renewable energy are the main driver of the slowdown. Companies began pulling back their investments shortly after the November 2024 election, when a victorious Trump telegraphed that he would promote fossil fuels over solar, wind, and other clean energy technologies. For instance, TotalEnergies, the French oil-and-gas giant, paused development of two offshore wind projects in late November 2024, citing uncertainty after Trump’s election. The company has not restarted the projects since."
Advertisement 
