Clean energy project cancellations under Trump administration cost economy billions, business group says

A new report from the nonpartisan business group E2 documents the widespread fallout of federal clean energy policy rollbacks during the second Trump administration, finding that more than 200 major projects were canceled, closed, or downsized between early 2025 and May 2026. According to fastcompany.com, the policy shift has cost the economy nearly half a million jobs and $55 billion in annual GDP growth, with the economic damage continuing to mount.

fastcompany.comReport: Trump's clean energy rollbacks cost $55 billion in GDP and nearly 500,000 jobs

"over 200 major clean energy projects were canceled, closed, or downsized between early 2025 and May 2026 following the Trump administration's rollback of federal clean energy incentives, permit cancellations, and attacks on renewables."

Carbon Pulse reported that the cancellations represent more than 20 GW of new capacity from solar, wind, and battery storage. The report, an economic analysis released by E2, underscores the scale of the retreat from clean energy investment under the second Trump term, with gigawatts of planned power generation never coming online.

Carbon PulseFederal policies in second Trump term lead to cancellation of over 20 GW of new US clean energy capacity -report

"Projects for more than 20 GW of new capacity from solar, wind, and battery storage have been cancelled"

The combined toll in lost economic output and employment highlights the broader consequences of reversing federal incentives and permits, according to the analysis. E2 framed the losses not as a one-time setback but as an ongoing drag, warning that the damage to state-level economies and supply chains would compound without a change in policy direction.