According to Houston Chronicle, data from Electric Reliability Council of Texas show that renewable energy and battery storage companies are canceling projects in Texas at a rate not seen since the global pandemic. The Chronicle said tariffs initiated by President Trump in April “are the most pressing challenge to the clean energy industry… These tariffs have significantly increased equipment costs for all kinds of energy projects, which makes them less worthwhile for companies to pursue.”
The Chronicle also reported that Trump’s omnibus bill currently being considered in Congress “has also cast a chilling effect across the industry as it could gut the Biden administration’s federal incentives for clean energy,” according to Jeffries, investment bank that compiled the report from ERCOT data. The report added, “Fewer renewable energy resources in the ERCOT region could mean higher electricity bills, a less reliable power grid, and a slowing of the transition to cleaner forms of energy.”
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