The Wind And Solar Energy Industries In The United States Are Facing A "Survival Crisis"

    On June 28th local time, the US Senate passed the procedural vote on President Trump's tax cut and spending bill by a narrow margin of 51 to 49. 
    This massive tax and spending bill, which Trump called "big and good", plans to cut taxes by 4 trillion dollars over the next 10 years, while reducing spending by 1.5 trillion dollars, and eliminating various tax credits for clean energy projects, including those for electric vehicles, wind energy, solar energy, and the production of clean hydrogen. 
    What is most worthy of attention is that the latest version of the "Grand Beautiful Bill" being debated by the Republicans in the US Senate introduces two key changes: imposing a new consumption tax on wind energy and photovoltaic projects that use specific imported components; and significantly advancing the full operational deadline for eligible clean energy projects to receive federal tax credits to the end of 2027. 
    Contrary to the general expectation in the market that the Senate would relax the subsidy elimination timeline, the latest version requires that wind and solar projects must be fully operational by the end of 2027 to receive incentives. The old version of the bill used the "commencement date" as the qualification criterion, and developers could control the start date by ordering equipment or building site roads. The new version significantly increases the difficulty, and developers are clearly almost powerless to control the "commencement date" because it mainly depends on the progress of grid connection. 
    Some industry insiders have stated that with each new version of the bill introduced by Congress, the prospects for the renewable energy sector have become increasingly bleak.