Senate GOP tax bill could crush wind and solar power, advocates say

On Tuesday, the U.S. Senate passed its budget bill, including aggressive cutoffs for wind and solar tax credits. — Image credit: Daniel Bosma via Getty Images

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On Tuesday, July 1, the U.S. Senate passed its budget megabill after more than a day of debate, including aggressive cutoffs for wind and solar tax credits. Following President Donald Trump’s long-standing opposition to wind energy, he reportedly pushed Senate leadership last week to accelerate the phase-out of renewable tax credits, driven by his campaign pledge to end the Inflation Reduction Act.

A new excise tax on foreign-sourced wind and solar materials, including China, was added unexpectedly, catching some GOP senators unaware and surprising some lawmakers.

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Industry advocates warn that the 2027 cutoff endangers hundreds of planned wind and solar projects despite the removal of the controversial excise tax, threatening future renewable development.

The bill advances to the House of Representatives, with Trump aiming to sign it by July 4.

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Key points from the Left

A Republican-led bill could phase out tax credits for wind, solar, and renewable energy.
Oregon Senator Ron Wyden described the GOP plan as 'a death sentence for America’s wind and solar industries' and stated that it would lead to higher utility bills for Americans.
Republicans argue that the tax-cut bill provides historic savings for taxpayers and supports traditional fossil fuels, increasing reliability.
Abigail Ross Hopper of the Solar Energy Industries Association called the bill 'a direct attack on American energy, American workers and American consumers.

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Key points from the Center

On July 1, the Senate narrowly passed a budget bill with Vice President JD Vance casting the tie-breaker, phasing out key clean energy incentives and imposing strict deadlines on renewable projects.
Following Trump's push, Senate leadership added a surprise excise tax on renewables, nearly derailing GOP support over project deadlines and foreign component requirements.
C2ES forecasts that ending key solar and wind tax credits after 2027 could eliminate 1.6 million jobs, cause $290 billion in GDP loss, and raise emissions by 8%.
NextEra Energy shares dropped 4% amid fears of higher costs and project delays, with industry analysts warning of up to $7 billion in extra expenses by 2036 and significant pipeline challenges.
The bill now moves to the House for final approval, aiming for passage by July 4, with any changes requiring a conference committee to reconcile differences.

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Key points from the Right

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- Senate-Passed Megabill Modifies Energy Tax Provisions
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