The groups estimate the losses since January have also cost 10,000 new clean energy jobs.
“The House’s plan coupled with the administration’s focus on stomping out clean energy and returning us to a country powered by coal and gas guzzlers is causing businesses to cancel plans, delay their plans and take their money and jobs to other countries instead,” E2 executive director Bob Keefe said.
The Senate is now reviewing the bill with an informal July 4 deadline to get it to the president’s desk.
Some of the most recent cancellations include the Kore Power battery factory in Arizona and BorgWarner’s closure of two EV manufacturing sites in Michigan. Bosch suspended a $200 million investment in a hydrogen fuel cell factory in South Carolina, citing changes within the market over the past year in a statement to The Associated Press.
Tariffs, inflationary pressures, nascent company struggles and low adoption rates for some technologies may also have been reasons for these companies’ plans changing. For instance, the battery storage and electric vehicle sectors have seen the most impact in 2025, with the latter especially having had had a difficult past few years. Several projects spurred by the IRA were also canceled prior to 2025.
Of the projects canceled this year, most — more than $12 billion worth — came in Republican-led states and congressional districts, the analysis said. Red districts have benefited more than blue ones from an influx of clean energy development and jobs, experts say.
Georgia and Tennessee are particularly at risk because they are highly invested in EV and battery production, said Marilyn Brown, an energy policy professor at the Georgia Institute of Technology who was not involved in the analysis.
“If all of a sudden these tax credits are removed, I’m not sure how these ongoing projects are going to continue,” said Fengqi You, an engineering professor at Cornell University who also was not involved.
A handful of Republican lawmakers have urged the continuation of energy tax credits, with some saying in an April letter to Senate Majority Leader John Thune, R-S.D. that a repeal could disrupt the American people and weaken the county’s position as a global energy leader.
Still, $4.5 billion in development was canceled or delayed last month, according to E2’s tally.
