Clean energy industry analysts and trade groups said Thursday that the budget reconciliation bill narrowly approved Thursday by the Republican-led House of Representatives would raise emissions and energy prices while giving China an edge in the growing clean technology market.
Business leaders in solar, wind, battery and EV manufacturing had hoped that the boom in clean energy investments in Republican districts would translate into political support for tax credits that benefit renewable energy and clean tech. But in the final hours of negotiations, the bill’s text grew even worse for clean energy interests, phasing out most of the tax credits even earlier than proposed in the bill’s earlier draft.
“It’s a significant shock,” Chirag Lala, director of energy at the Center for Public Enterprise, told Newsweek. CPE is a nonprofit that works with state and local governments on energy development and investment. The tax credits played an…
