A newly released report from NGO E2 tallied $4.5 billion worth of cancelled clean energy investments in April. This brings total cancellations to $8 billion in the first quarter of 2025. The report’s release coincides with the passage of the House’s version of the Budget Bill, proposed legislation that essentially revokes the majority of clean energy investment and manufacturing credits introduced in the 2022 Inflation Reduction Act.

“If the tax plan passed by the House last week becomes law, expect to see construction and investments stopping in states across the country as more projects and jobs are cancelled,” said Michael Timberlake, communications director at E2.

Four projects were cancelled in April: two in the battery/storage sector, one in EV production and one an offshore wind project:

• Stellantis (Illinois) — a $3 billion battery plant and large parts distribution hub.
• SungEel HiTech Co. (Georgia) — a $37 million lithium battery recycling facility.
• RWE (California, New York, Louisiana) — a $1.1 billion investment from the German wind developer.
• Juniper Power (Massachusetts) — $170 million in promised investments in a lithium battery storage plants.

Credit uncertainty, combined with the Trump administration’s ever-fluctuating tariffs and supply chain woes, has hit the battery storage and recycling industry particularly hard. In May, battery recycling startup Li-Cycle declared bankruptcy and Atlas Public Policy reported that more battery projects have been cancelled in Q1 2025 than the past two years.

[Connect with more than 3,500 professionals decarbonizing and future-proofing their organizations and supply chains through climate technologies at VERGE, Oct. 28-30, San Jose.]