$34.8B in clean-energy investment canceled

Summary

Companies canceled or downsized $34.8 billion in US clean-energy investments and eliminated more than 38,000 current and future US jobs in 2025 - the first net outflow since the IRA passed in 2022, per Environmental Entrepreneurs (E2). E2 has said federal policy rollbacks, especially the removal of clean-energy incentives, are destabilizing the industry.

What happened

Tracked by Environmental Entrepreneurs (E2) through monthly monitoring, companies abandoned clean energy manufacturing facilities at a rate of nearly three dollars canceled for every one dollar newly announced - the first net outflow since the IRA passed in 2022. Manufacturing projects accounted for more than $30 billion of total cancellations, with the electric-vehicle and battery sectors each losing more than $21 billion. Notable cancellations included SK On withdrawing a $2.8 billion, 3,300-job battery factory in Tennessee; and Ford canceling an Ohio EV manufacturing plant. $19.9 billion in canceled investments had been located in Republican congressional districts.

Impact on the United States

According to E2, the cancellations eliminated more than 38,000 current and future US jobs, with manufacturing facilities accounting for the vast majority of the cancelled investment and job loss, and more clean-energy investment left US communities than came in for the first time since 2022.

Global ripple effects

E2 said the investment "is increasingly heading to overseas markets and U.S. competitors."

Documented effects

1. Companies canceled $34.8 billion in US clean-energy investments in 2025, with 38,000 current and future jobs lost - for the first time cancellations outpaced new announcements nearly 3-to-1.[1][3]
2. SK On withdrew a $2.8 billion, 3,300-job Tennessee battery factory; Ford canceled an Ohio EV plant; $19.9 billion of total cancellations fell in Republican congressional districts.[1]

Why this is rated severe

E2 counted $34.8B in canceled clean-energy investment and more than 38,000 current and future jobs lost in 2025, the first net outflow since 2022, a large-scale realized economic harm across many communities.

Corrections & updates [6]

Every change to a fact on this page after publication is logged here, newest first.

1. Sep 29, 2026CorrectedWhat happened

   E2's year-end release says the electric-vehicle and battery sectors each lost more than $21 billion in investment. It does not say they made up "three-quarters" of cancellations, and it does not mention Orsted. The wording now matches the release.[1]

   + Show previous and current text- Hide previous and current text

   Previously

   Tracked by Environmental Entrepreneurs (E2) through monthly monitoring, companies abandoned clean energy manufacturing facilities at a rate of nearly three dollars canceled for every one dollar newly announced - the first net outflow since the IRA passed in 2022. Manufacturing projects accounted for more than $30 billion of total cancellations, with battery storage and EV manufacturing comprising three-quarters. Notable cancellations included SK On withdrawing a $2.8 billion, 3,300-job battery factory in Tennessee; Ford canceling an Ohio EV manufacturing plant; and Ørsted restructuring all US offshore commitments. $19.9 billion in canceled investments had been located in Republican congressional districts.

   Now

   Tracked by Environmental Entrepreneurs (E2) through monthly monitoring, companies abandoned clean energy manufacturing facilities at a rate of nearly three dollars canceled for every one dollar newly announced - the first net outflow since the IRA passed in 2022. Manufacturing projects accounted for more than $30 billion of total cancellations, with the electric-vehicle and battery sectors each losing more than $21 billion. Notable cancellations included SK On withdrawing a $2.8 billion, 3,300-job battery factory in Tennessee; and Ford canceling an Ohio EV manufacturing plant. $19.9 billion in canceled investments had been located in Republican congressional districts.

2. Sep 29, 2026CorrectedSource

   The SK On, Ford and $19.9 billion figures were cited to a PV Magazine article from October 2025. That article covers losses through September ($24 billion; $12.4 billion in Republican districts). The figures come from E2's year-end release, which is dated February 4, 2026, not December 1, 2025. E2 is a business advocacy group and PV Magazine is a trade publication, so both are Tier 3, not major news.[1][2]

3. Sep 29, 2026CorrectedSource

   The entry relied only on Environmental Entrepreneurs (E2), a business advocacy group, and a trade publication. The Atlanta Journal-Constitution's October 2025 report on E2's data (more than $24 billion in cancelled EV, battery and renewable-energy projects in 2025 by then) is added as a general news source. The summary no longer implies the cause: E2's year-end release does not attribute the cancellations, and E2's earlier report, quoted by the AJC, pointed to federal policy rollbacks, especially the removal of clean-energy incentives; that attribution is now explicit.[1][3]

4. Sep 29, 2026CorrectedUS impact

   The entry described the lost jobs as manufacturing jobs in a 'battery belt' and said capacity shifted to China and Europe in industries worth trillions. E2 counts more than 38,000 current and future clean-energy jobs, most tied to manufacturing facilities, and does not mention a battery belt, China or Europe; it says the investment is increasingly heading to overseas markets. The text, subtitle and severity note now match E2 and drop the unsupported 'record' wording.[1]

5. Sep 29, 2026CorrectedSeverity rationale

   The rationale said the cancellations 'reversed a manufacturing boom', a claim not in the entry's sources. It now states E2's figures. Severity unchanged.[1]

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   Previously

   A $34.8B single-year loss of investment and 38,000+ current and future jobs, per E2, reversed a manufacturing boom, a large-scale realized economic harm to many communities.

   Now

   E2 counted $34.8B in canceled clean-energy investment and more than 38,000 current and future jobs lost in 2025, the first net outflow since 2022, a large-scale realized economic harm across many communities.

6. Sep 29, 2026CorrectedCost estimate

   Removed all figures. Cancelled private investment ($34.8B, per the business group E2) is a private loss, not a taxpayer cost, and the old $8.7B net, $26.1B 'savings' and $35B-$50B projections had no source. The higher household energy bills from the same policy shift are counted once, under the One Big Beautiful Bill clean-energy-credits entry, instead of twice.

   Previously

   $8.7B so far ($34.8B cost - $26.1B savings); $35B / $50B 10yr/15yr; $120B broader 10yr

   Now

   $0 on all horizons (energy-bill burden booked under one-big-beautiful-bill-ira-credits)

Sources [3]