White House policy under the Trump administration has dealt a massive, and I would argue, possibly fatal financial blow to the US auto industry by cancelling tax incentives for EV sales, even after US companies had invested heavily in that space.
But incentives remain for BESS – Battery Energy Storage Systems – that back up and power the electric grid, and companies have pivoted hard into that space, resulting in a flood of grid storage, and dropping the price for firm renewable energy. The graph below is from the July 2025 Shareholders report from NextEra, the largest US builder of power systems.
It shows that current wind and solar systems, even with battery storage, are cheaper than Natural gas, or nuclear, both of which have serious availability issues.
The falling prices for storage are one big reason why NextEra is predicting that renewables will be the overwhelming majority of its additions by 2032.
Graph here from their 2026 Shareholder’s call.
