Solar Developers Rush to Secure Tax Credits Before Trump-Era Phaseout Drives Up Energy Prices
By
Reuters
Summary
U.S. solar developers are rushing to secure federal subsidies for projects large enough to nearly double current capacity before a July 4 deadline, after President Trump's 2025 tax law accelerated the phaseout of clean energy tax credits worth at least 30% of project costs. The loss of these 20-year-old subsidies threatens to raise U.S. energy prices significantly amid surging demand driven by artificial intelligence, with contract prices for wind and solar energy potentially rising by 4% or more.
Source
bskySolar Developers Rush to Secure Tax Credits Before Trump-Era Phaseout Drives Up Energy Pricesgvwire.comKey quotes
· 3 pulledU.S. solar developers have secured federal subsidies for a wave of projects large enough to nearly double current capacity, rushing to beat a July 4 deadline that could send renewable power costs sharply higher.
The projections reflect the loss of valuable renewable energy tax credits worth at least 30% of project costs, a change that threatens to raise U.S. energy prices amid surging demand driven by artificial intelligence.
The phaseout of the 20-year-old subsidies, accelerated under President Donald Trump's 2025 tax law, could drive contract prices for wind and solar energy up by 4
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