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.
Egypt’s Foreign Minister Badr Abdelatty and Chinese Foreign Minister Wang Yi discussed the escalating Middle East tensions and stressed the need for urgent de-escalation and diplomatic efforts to prevent further conflict.
A new rail agreement between Pasifik Eurasia and a China Railway subsidiary is set to strengthen the Middle Corridor trade route, offering a faster and cheaper alternative to shipments via Russia.
Leaders from China and five Central Asian nations convene in Astana, Kazakhstan, for the Second China–Central Asia Summit (June 16–18, 2025).
China has voiced strong opposition to further escalation between Iran and Israel, and warned that deepening the conflict benefits no one.
Uzbekistan and China have reaffirmed their strategic partnership with fresh momentum, agreeing to fast-track major infrastructure and investment projects including the China–Kyrgyzstan–Uzbekistan railway.
Egypt’s Foreign Minister Badr Abdelatty and Chinese Foreign Minister Wang Yi discussed the escalating Middle East tensions and stressed the need for urgent de-escalation and diplomatic efforts to prevent further conflict.
Rwanda and the Democratic Republic of Congo (DRC) have initialed a draft peace agreement, marking a significant step toward ending years of conflict in eastern Congo.
At the second China-Central Asia Summit held in Astana, the capital of Kazakhstan, China and five Central Asian countries signed the "Treaty of Eternal Good-Neighborliness, Friendship, and Cooperation," establishing a new legal foundation for strategic partnership.
The potential for U.S. military involvement in a conflict with Iran is revealing a rare rift within President Donald Trump's core political base, the "Make America Great Again" (MAGA) coalition.
At the St. Petersburg International Economic Forum, President Vladimir Putin outlined Russia’s stance on the Ukraine war, NATO expansion, the Iran-Israel conflict, and future ties with the U.S., signalling openness to dialogue but firmly on Moscow’s terms.
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.
Israeli strikes have reportedly targeted areas near the residences of Iran’s Supreme Leader Ayatollah Ali Khamenei and President Masoud Pezeshkian, according to the New York Times, citing local witnesses.
Azerbaijan Airlines (AZAL) has cancelled certain flights scheduled for 13th and 14th June amid recent escalation of situation in the Middle East and the closure of airspace in several countries for security reasons.
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.
Start your day informed with AnewZ Morning Brief: here are the top news stories for June 17th, covering the latest developments you need to know.
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.
A historic May heat wave pushed Greenland’s ice melt to 17 times its average rate and sent Iceland’s temperatures soaring to record-breaking highs, raising urgent alarms about Arctic climate vulnerability.
Climate change could slash over 5% from Italy’s GDP by 2050 if no action is taken, according to the national budget watchdog, highlighting the urgent need for global emissions cuts.
At least seven people have died and several schoolchildren are missing after heavy rain and snow triggered flooding in South Africa’s Eastern Cape and southern regions, officials said Tuesday.
A new study warns that the emperor penguin population in Antarctica is shrinking faster than expected, with numbers falling by 22% over 15 years due to climate change and unstable sea ice.
Egypt’s Foreign Minister Badr Abdelatty and Chinese Foreign Minister Wang Yi discussed the escalating Middle East tensions and stressed the need for urgent de-escalation and diplomatic efforts to prevent further conflict.
Rwanda and the Democratic Republic of Congo (DRC) have initialed a draft peace agreement, marking a significant step toward ending years of conflict in eastern Congo.
At the second China-Central Asia Summit held in Astana, the capital of Kazakhstan, China and five Central Asian countries signed the "Treaty of Eternal Good-Neighborliness, Friendship, and Cooperation," establishing a new legal foundation for strategic partnership.
The potential for U.S. military involvement in a conflict with Iran is revealing a rare rift within President Donald Trump's core political base, the "Make America Great Again" (MAGA) coalition.
At the St. Petersburg International Economic Forum, President Vladimir Putin outlined Russia’s stance on the Ukraine war, NATO expansion, the Iran-Israel conflict, and future ties with the U.S., signalling openness to dialogue but firmly on Moscow’s terms.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment