Senate Republicans stunned clean energy developers early Monday by inserting sweeping revisions to President Donald Trump’s $1.2-trillion “One Big, Beautiful Bill” just ahead of floor debate. The last-minute amendments slash wind and solar tax incentives, introduce excise taxes on imported Chinese energy components, and move eligibility criteria from start-date to in-service date, upending financing models across the renewable sector.
At stake is nearly $360 billion in clean energy tax credits passed under the Inflation Reduction Act (IRA).
Under the Senate version of the bill, production tax credits for wind and solar will now expire by December 31, 2027, five years earlier than originally planned. Projects that fail to reach full operation by that date will lose access entirely, regardless of prior investment or construction status.
The new language also introduces a 10% excise tax on clean energy equipment…
