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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.
Australian researchers have pioneered a low-cost and scalable plasma-based method to produce ammonia gas directly from air, offering a green alternative to the traditional fossil fuel-dependent Haber-Bosch process.
A series of earthquakes have struck Guatemala on Tuesday afternoon, leading authorities to advise residents to evacuate from buildings as a precaution against possible aftershocks.
European Commission President Ursula von der Leyen urged stronger sanctions and defence support for Ukraine as the EU's 18th sanctions package against Russia nears approval.
Archaeologists have uncovered a 3,500-year-old city in northern Peru that likely served as a key trade hub connecting ancient coastal, Andean, and Amazonian cultures.
A deadly mass shooting early on Monday (7 July) in Philadelphia's Grays Ferry neighbourhood left three men dead and nine others wounded, including teenagers, as more than 100 shots were fired.
A searing heat wave sweeping in from Western Europe has gripped Greece, prompting emergency measures as temperatures soar across the country.
At the 17th Economic Cooperation Organization (ECO) Summit on 4 July in Khankendi in Azerbaijan, expressed support to the bid by the Republic of Türkiye to host COP31 in 2026. Antalya has been proposed as host city for COP31.
China has issued high heat warnings across hundreds of regions as East Asia faces its most intense heat wave of 2025.
Australia has pledged $283 million to support a green hydrogen project led by explosives manufacturer Orica, aiming to boost renewable energy production and reduce industrial emissions.
Pakistani Prime Minister Shehbaz Sharif on Friday proposed creating a low-emissions corridor and regional climate initiatives under the Economic Cooperation Organization (ECO), warning that climate change is severely affecting food security and livelihoods across the region.
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