Climate Politics
Solar, Wind Industries See Existential Threat in Senate Tax Bill
A proposed excise tax would exacerbate the pain from the phaseout of subsidies.
Solar panels at the Cascadilla Community Solar Farm, owned by Cornell University, in Dryden, New York, in 2023.
Photographer: Bing Guan/BloombergAs Senate Republicans debate President Donald Trump’s tax and spending bill, renewable energy companies are reeling at what looks like a worst-case scenario for the industry.
The latest version of the Senate bill includes a new excise tax on wind and solar projects with certain Chinese components, a late addition that stunned renewable advocates. Given China’s dominance of the solar supply chain, developers would struggle to find ample equipment, including wafers, from other countries.