As was anticipated since current U.S. President Donald Trump took office, the renewable energy sector has been pushed to the background, with coal becoming a priority over clean energy sources.

In line with this approach, the U.S. Senate, controlled by Republicans, narrowly approved a bill that significantly cuts the clean energy incentives established by the Inflation Reduction Act (IRA).

According to research center Energy Innovation, the 2025 Reconciliation Bill would reduce the U.S. GDP by $1.1 trillion, cost hundreds of thousands of jobs, and increase consumers' energy bills.

After analyzing the energy and climate provisions of the House reconciliation bill—including all tax credits from the IRA and the expansion of oil and gas production—Energy Innovation concluded the following:

• Between 2026 and 2034 (the reconciliation window), national GDP would cumulatively decrease by nearly $1.1 trillion.
• Wholesale energy prices would rise by approximately 50% by 2035 due to the loss of new generation capacity.
• Cumulative annual energy costs for consumers would increase by over $16 billion in 2030 and more than $33 billion by 2035.
• Employment would drop by over 830,000 jobs in 2030 and nearly 720,000 jobs by 2035.
• Additionally, the growth of wind, solar, and energy storage would fall substantially at a time when the grid requires more power due to rising electricity demand.

In response to this vote, Oceantic Network (ON) also issued a statement: “The House of Representatives’ action to repeal key provisions of clean energy and manufacturing tax credits denies taxpayers access to affordable and reliable electricity, slows the development of new energy sources, and threatens billions of dollars in investments and well-paying jobs across the United States,” said Liz Burdock, President and CEO of ON.