U.S. companies canceled or scaled back almost $1.6 billion in clean energy projects last month, adding to a wave of scrapped investments this year as the Trump administration cuts incentives for low-carbon technologies, according to a new analysis.
As of the end of September, the private sector had terminated or downsized 42 clean energy projects this year, triple the number for all of 2024, according to the report from clean energy business group E2. The pullback has hit more than 20,000 jobs and $24.3 billion in investments so far in 2025, with the majority of affected projects in congressional districts led by Republicans.
“For every canceled factory or downsized plant, behind the scenes many more projects are not being announced at all as more capital flees and businesses look overseas to invest instead,” said Michael Timberlake, E2’s spokesperson.
The report underscores the challenges facing clean energy companies amid the Republican megalaw’s phaseouts of tax credits, funding cuts at federal agencies and shifting trade policy.
