Transcript:

From 2021 to 2024, clean energy manufacturing in the U.S. boomed.

Companies announced more than $200 billion in investment in producing EVs, batteries, solar panel parts, and more – along with the creation of more than 200,000 jobs.

But last year, the industry took a downturn.

Matthew Vining is with Atlas Public Policy. According to a report by his group and the Environmental Defense Fund, companies canceled projects that represented almost $30 billion in investment and 40,000 jobs.

Vining: “And the spike in cancellations or retractions led to pretty stagnated net growth from what we saw as a high watermark in 2024.”

According to the report, Trump administration policy changes and funding cuts were a major cause.

Vining: “Cuts in federal tax credits for clean vehicles, restrictions placed on wind and solar projects at the federal level, as well as lowering vehicle emission standards … just ended up introducing a lot of uncertainty for manufacturers.”

Some investment in clean energy continues. But more cancellations have come this year, and the sector is growing far more slowly than it was. So Vining says communities are grappling with the loss of expected jobs and revenue.

Reporting credit: Sarah Kennedy / ChavoBart Digital Media