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.
The U.S. military has said it carried out defensive strikes in southern Iran after boats were seen laying mines in the Strait of Hormuz. Meanwhile, U...
The first Baku-Tbilisi passenger train, operated by Azerbaijan Railways, has arrived in the Georgian capital at 09:04 local time on Monday, 26 May. T...
The UK is experiencing potentially record-breaking temperatures after forecasters confirmed some areas reached highs close to 34°C on Monday....
FIFA has confirmed that Iran has moved its World Cup training base from the United States to Mexico, citing the ongoing war in the Middle East and rel...
Iran is restoring global Internet access after President Masoud Pezeshkian ordered the repeal of restrictions that have been in place for almost three...
Energy transition, private sector development and regional cooperation are in focus at the Asian Development Bank’s 59th Annual Meeting in Samarkand, highlighting Central Asia’s growing role in regional and global economic dynamics.
United Nations Secretary-General Antonio Guterres on Wednesday called on countries party to the Paris Agreement to prepare faster and deeper emission reduction plans for 2035.
Masdar, Abu Dhabi’s state-owned renewable energy company, and Iberdrola, one of the world’s largest energy firms, have signed two major agreements as part of their €15 billion (almost $17.6 bn) alliance to expand offshore wind and green hydrogen projects in the UK, Germany, and the United States.
President Donald Trump signed four executive orders directing the Department of Energy to ease regulations and accelerate the construction of nuclear reactors.
The inaugural Enhanced Games began in Las Vegas on Sunday (24 May), launching one of the most controversial experiments in modern sport, in which athletes openly compete using performance-enhancing drugs banned under traditional anti-doping rules.
A peace agreement between Washington and Tehran is yet to materialise, with U.S. President Donald Trump saying that negotiations are incomplete and an Iranian Foreign Ministry Spokesman saying that a deal isn't imminent.
A "largely negotiated" memorandum of understanding on an Iran peace deal would reopen the Strait of Hormuz, U.S. President Donald Trump said on Saturday, though the Iranian Fars news agency disputed that claim.
Start your day informed with the AnewZ Morning Brief. Here are the top stories for 25th May, covering the latest developments you need to know.
The World Health Organization warned on Monday that the fast-moving Ebola outbreak in the Democratic Republic of the Congo and Uganda was outpacing response efforts, with 220 suspected deaths reported so far.
The UK is experiencing potentially record-breaking temperatures after forecasters confirmed some areas reached highs close to 34°C on Monday.
More than 100 people were killed in a violent storm that battered India's most populous state, Uttar Pradesh, with rain and hail, the state Disaster Management and Relief office said on Thursday.
Climate change has driven a record surge in wildfires across Africa, Asia and other regions this year, with scientists warning that conditions are likely to worsen further as the northern hemisphere enters summer and El Niño weather patterns intensify.
Destruction of the world's tropical forests eased in 2025 from a record high, a report showed on Wednesday, underscoring how decisive policy can help keep trees standing despite pressures from a warmer climate and expanding agricultural frontiers.
Kazakhstan has ratified a regional green energy agreement with Azerbaijan and Uzbekistan, signalling Central Asia’s ambition to become a key supplier of renewable energy to international markets.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment