Overview

• The House-approved bill seeks to accelerate the phase-out of Inflation Reduction Act (IRA) clean energy tax credits and impose stricter rules on Chinese-made components.
• Industry groups warn the legislation could jeopardize nearly 300 solar and energy storage factories, primarily in Republican-led states, and result in 300,000 job losses.
• The Solar Energy Industries Association (SEIA) estimates the proposal would lead to $220 billion in lost solar and storage investments by 2030.
• Since the IRA's enactment in 2022, over 250 clean energy manufacturing projects have been announced, projected to create 575,000 jobs and $86 billion in annual GDP by 2030 under current policies.
• Solar and storage are expected to account for 73% of U.S. electricity capacity additions by 2030, but the rollback could undermine these critical energy gains.