Companies canceled or downsized more than $34 billion in U.S. clean energy projects last year, underscoring challenges facing renewables and low-carbon industries, according to a new report.
Last year marked the first time since 2022 that companies abandoned more annual investments than they announced in the sector, clean energy business group E2 said Wednesday. The 61 nixed projects affect roughly 38,000 current and planned jobs, the group said.
Since taking office in January 2025, President Donald Trump has sought to bolster fossil fuels while taking aim at renewable energy and efforts to slash carbon dioxide emissions.
The past year was “a turning point for the U.S. clean energy economy,” said Michael Timberlake, director of research and publications at E2, in a statement. “When nearly three dollars in investment are abandoned for every dollar announced, it means capital is no longer choosing American communities.”
