Chinese clean energy companies risk losing tax benefits under the Inflation Reduction Act if the One Big Beautiful Bill becomes law, following its narrow passage in the U.S. House of Representatives.
The One Big Beautiful Bill Act, a budget reconciliation package supporting President Donald Trump’s policy agenda, passed the House of Representatives by one vote early Thursday. The legislation includes provisions that would exclude Chinese clean energy firms from tax incentives established under the Inflation Reduction Act (IRA).
The IRA, signed into law by President Joe Biden in 2022 and sometimes called the “Green New Deal,” offers tax credits to clean energy producers and manufacturers, especially those involved in electric vehicle batteries, battery storage, solar, and wind energy.
China dominates global solar manufacturing, with eight of the top ten solar companies worldwide headquartered there, according to researchers at Photovoltaic Brand Lab. Since the IRA’s enactment, Chinese companies have invested heavily in solar projects across the U.S., totaling over a billion dollars in states including Florida, Ohio, Texas, Alabama, New Mexico, and Arizona.
Despite these investments, it remains uncertain how the new bill will affect these Chinese solar ventures, as none have publicly commented on the development.
The Solar Energy Industries Association (SEIA), which includes Chinese solar firms among its members, criticized the bill’s passage. SEIA president Abigail Ross Hopper described the proposed changes as “unworkable” for solar deployment and warned of rising electricity costs and increased risk of blackouts without continued solar growth, a sector where China plays a dominant role.
However, U.S. residential electricity prices have risen from 12.65 cents per kilowatt hour in 2015 to 16.48 cents in 2024, despite record levels of solar installation, according to the Energy Information Administration.
The bill now heads to the Senate, where China solar importers are urging lawmakers to reconsider and amend the proposed restrictions.
Tajikistan and China have agreed to establish a Joint Working Group on Artificial Intelligence, following high-level talks between President Emomali Rahmon and President Xi Jinping in Astana earlier this week.
China’s exports of rare earth magnets dropped sharply in May, plunging 52.9% from April to just 1,238 metric tons, their lowest monthly level since February 2020. The drop comes amid tightened export controls and growing customs scrutiny.
China has unveiled a mosquito-sized bionic drone designed for covert military operations and battlefield reconnaissance, marking a major advance in micro-robotics and stealth technology as part of the country’s growing focus on next-generation warfare capabilities.
Severe flooding triggered by heavy rainfall in southern China has forced the evacuation of about 70,000 people, local media reported on Wednesday.
President Ilham Aliyev has signed a decree approving the 'Agreement between the Government of the Republic of Azerbaijan and the Government of the People's Republic of China on International Multimodal Transportation.'
U.S. Vice President J.D. Vance visited military personnel in Los Angeles on Friday following their deployment to the city earlier this month in response to protests triggered by federal immigration enforcement actions.
As Argentina’s unemployment hits a four-year high, the spotlight has turned to the libertarian administration of President Javier Milei, whose sweeping economic reforms are reshaping the country’s social and labour landscape.
South Korea’s chief trade negotiator, Yeo Han-koo, will travel to the United States from June 22 to 27 for a new round of high-level discussions aimed at resolving escalating trade tensions, the Ministry of Trade, Industry and Energy announced on Saturday.
US President Donald Trump said Friday that a major deal with Harvard University could be announced soon.
US President Donald Trump rejected the official assessment from his intelligence community that Iran is not currently building a nuclear weapon.
Iranian missiles struck multiple locations across Israel and neighbouring regions early Friday morning, including a Microsoft office complex, according to emergency responders and local media reports.
Peace is no longer a dream. It is a discussion. On the streets of Baku and Yerevan, it is also a question, of trust, of foreign interests, and of who truly wants it.
A high-speed tram derailment in central Gothenburg, Sweden, has left at least eight people injured late on Thursday (19 June), after the vehicle slammed into a snack bar on Avenyn Avenue.
The 2025 G7 Leaders’ Summit was held June 15–17 in Kananaskis, Alberta, under Canada’s presidency. Prime Minister Mark Carney framed the meeting around priorities of protecting communities, energy and climate security, the digital transition, and future partnerships.
The USS Nimitz is heading to the Middle East amid tensions between Israel and Iran. The U.S. aircraft carrier has a decades-long history in the region, from the 1979 hostage crisis to modern deployments, often serving as a key asset during periods of rising friction with Iran.
A 32°C heatwave expected to grip England has been made a 100 times more likely by human-caused climate change, according to a rapid scientific analysis released Thursday.
In 19 EU countries, the share of renewable energy sources in net electricity generation decreased in the first quarter of 2025 compared with the first quarter of 2024. The largest drops were recorded in Greece (-12.4%), Lithuania (-12.0%) and Slovakia (-10.6%).
The first side event of the Global South NGO Platform, initiated by Azerbaijan, was held in Bonn, Germany this week.
Egypt’s first integrated solar and battery storage plant will deliver dispatchable clean energy, enhance grid stability and manage peak demand. The project is expected to generate approximately 3,000 GWh of clean energy and avoid up to 1.4 million metric tonnes of emissions per year.
UK Chancellor of the Exchequer, the Rt Hon Rachel Reeves, has announced a record £2.5 billion in additional funding this week to advance the development of the world’s first fusion power plant.
U.S. Vice President J.D. Vance visited military personnel in Los Angeles on Friday following their deployment to the city earlier this month in response to protests triggered by federal immigration enforcement actions.
As Argentina’s unemployment hits a four-year high, the spotlight has turned to the libertarian administration of President Javier Milei, whose sweeping economic reforms are reshaping the country’s social and labour landscape.
South Korea’s chief trade negotiator, Yeo Han-koo, will travel to the United States from June 22 to 27 for a new round of high-level discussions aimed at resolving escalating trade tensions, the Ministry of Trade, Industry and Energy announced on Saturday.
US President Donald Trump said Friday that a major deal with Harvard University could be announced soon.
US President Donald Trump rejected the official assessment from his intelligence community that Iran is not currently building a nuclear weapon.
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