Best case: Someone, no one will say who, slipped a “kill shot” for clean energy into the Senate’s version of the No Good, Horrible, Very Bad Bill over the weekend. It was stripped out in the version that was passed last night.
Anyone’s guess what happens in the House, but with any luck this tells us that some quick reality checking went on in the Senate about the real-world consequences of zeroing out clean energy – ie major damage to US economy, blackouts, brownouts, chaos and unemployment.
Similar to what happened to a suite of measures introduced in Texas this year, meant to pull the plug on renewables – that failed, on the strength of a coalition made up of Chamber of Commerce types, conservative property rights advocates, a few urban greenies, and even the fossil industry itself which needs the cheapest energy ( renewables), paradoxically, to power their extraction of oil and gas from the Permian Basin in West Texas and New Mexico.
Clean energy is showing some resilience in the face of the most withering assault that the fossil fuel interests can mount.
Let’s see what happens.
BMO Capital analyst Ameet Thakkar notes that the Senate version of the One Big Beautiful Bill Act – OBBBA – is positive for First Solar (FSLR) as it removes the risk to reduction of 45X Advanced Manufacturing Production Tax Credit and that the company can continue booking $0.17/w of stacked credit vs falling to $0.07/w.
For SunRun (RUN), the solar lease eligibility for Section 48E ITCs – Investment Tax Credits – is also unexpectedly back in until 2027-end, and given high short interest and greater dependence on ITCs for residential solar economics to support the company’s balance sheet, the firm expects a strong positive reaction, BMO stated. Fluence Energy (FLNC) should also react positively as the Energy Storage/Batteries are largely unscathed from any changes to phase out timeline and FEOC changes that likely curtail utility scale solar in FY27, BMO noted.
To maintain American dominance on a global stage, the U.S. must build 450 gigawatts of generation over the next five years—to put that in perspective, that’s the equivalent of adding enough generation to power 75 Miami metro areas or 11 Floridas. For context, just over 40 gigawatts of new natural gas and nuclear has been built over the last five years in the U.S.
Now is not the time to take options off the table. The stakes are too high. Finishing second in artificial intelligence cannot be an option. Nor should squandering an opportunity to create American jobs.
Clean energy tax credits
It’s why the debate over clean energy tax credits cannot be just about renewable energy. It’s much more than that. It’s about whether we want to turn our backs on the only forms of power generation available at scale at a time when the U.S. needs every electron it can get.
I say this not as an ideologue, but as the CEO of the country’s largest electric provider and America’s quintessential all-forms-of-energy company.
NextEra Energy is not just a leader in home-grown renewables. We own and operate more natural gas power plants than anyone in America. We also operate one of the nation’s largest nuclear fleets. We own pipelines and a natural gas extraction business. Our sole abiding interest is delivering low-cost energy to our customers as quickly as possible.
It’s clear Congress wants to roll back clean energy tax credits—we’re not here to debate that. But for the sake of America’s power supply, economy, and national security, we urge lawmakers to take a measured approach.
Because new nuclear power plants are not available until the mid-2030s and traditional power plants take years to build and turbines are sold out through the early 2030s – a full-stop, immediate elimination of credits or a change to start of construction would effectively shut off America’s supply of new power plants through the end of the decade.
Until then, America’s only option is to build wind, solar, and battery storage—which can serve as a bridge while we expand traditional power plant supply chains and workforces.
Lower energy costs
Last week’s Senate Finance Committe draft bill acknowledges this reality and in contrast to the House version, offers a pragmatic approach to phasing out the clean energy credits, recognizing that businesses signed contracts and made enormous capital decisions based on current law. By some estimates, over $1 trillion of U.S. energy infrastructure investments could be put at risk.
Practical, commonsense provisions, like tying credits to the start of construction as they are phased out, provide a runway to finish projects and put much-needed electrons onto the grid while keeping power prices low for American homes and businesses.
Remember, energy companies do not get the credits—they flow directly to American homeowners and business owners through lower energy costs. And in rural communities across America, renewable and storage projects inject significant tax revenue often used for essential services like police, schools, and roads.
Other news:
NOAA budget mirrors Trump plan, reduces spending and staff
A detailed expense budget for NOAA outlines plans to reduce spending and cut climate and atmospheric research.
https://www.usatoday.com/story/news/nation/2025/07/01/noaa-proposes-shaving-30-of-its-budget/84425822007/
And:
https://www.nytimes.com/2025/06/30/climate/antarctic-sea-ice-salinity.html