A new report by the clean energy business group E2 has revealed a record number of cancellations and delays of clean energy projects in the US in April. The scrapped investments amount to $4.5 billion, with electric vehicle, offshore wind, and battery projects being affected.
The Inflation Reduction Act’s tax credits are under threat, putting pressure on the renewable and low-carbon sectors. The report highlights that this is the second-highest monthly amount of cancellations since the act was passed.
E2 executive director Bob Keefe warned that more cancellations can be expected as lawmakers consider cutting billions in tax credits. Since January, $14 billion in clean energy investments have been canceled or delayed, resulting in 10,000 job losses.
Source: https://www.eenews.net/articles/major-blow-for-clean-energy-project-cancellations-snowball-2