WASHINGTON –Businesses canceled, closed, and scaled back more than $4.4 billion worth of large-scale factories and clean energy projects from late-September through October, bringing the total cost of projects cancelled in the private-sector to over $28.7 billion in 2025 alone, according to E2’s latest monthly analysis of clean energy projects tracked by E2. The cancellations and scale backs impact nearly 9,000 current and future jobs, bringing the total number of jobs lost to abandoned projects in 2025 to nearly 30,000.
The latest wave of private-sector cancellations and closures — affecting nine battery, storage, solar, and electric vehicle factories in California, Michigan, Mississippi, and Ohio — comes as just a single new large-scale project was announced last month according to E2’s tracking. That is the lowest number of new projects announced in a single month since E2 began tracking in August 2022.
According to the analysis, cancellations, closures, and downsizes are outpacing new project investments and jobs nearly two to one in 2025. $11 billion and 17,000 jobs have been announced in connection with new projects in 2025 compared to $28.7 billion and nearly 30,000 jobs lost in connection with projects abandoned.
Republican-held congressional districts continue to lose the most from cancellations tracked by E2. $16.9 billion in investments that would have created almost 22,000 jobs have been cancelled in Republican districts so far in 2025, compared with $9.9 billion and 13,000 jobs in Democratic districts.
Following is a statement from MICHAEL TIMBERLAKE, E2 DIRECTOR OF RESEARCH AND PUBLICATIONS:
“The abandonment of 51 projects this year alone reflects heightened uncertainty among manufacturers and investors about the long-term U.S. policy landscape. Companies that had already broken ground, begun hiring, or made major capital commitments are now reversing course, leaving communities with fewer jobs, weakened tax bases, and stalled industrial expansion plans.”
According to E2’s tracking, new investments were not enough to offset impact from scaled back and abandoned projects. Eos Energy Storage’s $352 million announcement to relocate its headquarters to Pittsburgh and expand its Pennsylvania-based battery manufacturing brought total investments announced since E2 began tracking in August 2022 to $132.2 billion—a drop of more than $2 billion from last month. Further, total new project investments announced by companies has essentially remained stagnant over the last 12 months. E2’s October analysis last year saw overall investments rise above $130 billion.
*cancellations tracked by E2 include projects that were announced or completed prior to August 2022 and would not have been added to E2’s announcement tracking because of their starting date. This explains why overall investments have not decreased while cancellations and closures have outpaced new investments announced*
Total projects announced by year 2022-2025
| Year | Projects | Investments | Jobs |
|---|---|---|---|
| 2022 | 70 | 40,369,500,000 | 28,831 |
| 2023 | 191 | 64,144,200,000 | 59,165 |
| 2024 | 86 | 16,437,729,000 | 18,970 |
| 2025 | 70 | 11,374,250,000 | 17,275 |
| Total | 417 | 132,325,679,000 | 124,241 |
Total projects cancelled, closed, downsized by year 2022-2025
| Year | Projects | Investment Lost | Jobs Lost |
|---|---|---|---|
| 2022 | 0 | 0 | 0 |
| 2023 | 9 | 744,000,000 | 2,052 |
| 2024 | 14 | 1,971,500,000 | 7,546 |
| 2025 | 51 | 28,767,300,000 | 29,944 |
| Total | 74 | 31,482,800,000 | 39,542 |
*includes projects announced, completed, or operational before federal tax credits were passed that were not counted in E2’s tracking that began in August 2022
To download the analysis memo with table totals by state, sector, industry, congressional district, and year, click here.
A full map and list of announcements is available at e2.org/project-tracker/
—
About E2’s Analysis
Announcements
Projects that began development, were proposed, or applied for local and state approval before the passage of the Inflation Reduction Act (IRA) are not included. This analysis also does not include investments in which the federal government has provided financial resources for the complete project, lease sales, projects in which an announcement was made but lacked specific geographic information, etc. Details on projects came from news reports on new and related projects; press releases from companies announcing new developments; and government announcements.
Cancellations, Closures, Downsizes
This tracking includes all projects, plants, operations, or expansions that were cancelled or closed since passage of the IRA in August 2022. This does not include announced layoffs that are not associated with a project downsizing unless there is a stated decease in production output. This list also does not include the transfer of project ownership, if production will continue under the new ownership, power purchasing agreements, or other similar type of announcements. Project delays or idling of facilities are not included unless there in an announced decrease in production or investment or unless the project will need to be restarted to proceed in the future.
—
Additional Resources:
- E2: Clean Jobs America 2025 | Interactive Jobs Map & Full Data Tables
- E2: Clean Economy Works Tracker
- E2: Benefits to Rural America from the Inflation Reduction Act: Driving Jobs, Investment, and Economic Resilience
- E2: Clean Economy Works | An Economic Impact Analysis of Major Clean Energy Projects Announced Through Two Years of the Inflation Reduction Act
- E2: Clean Economy Works | IRA Two-Year Review
###
E2 is a national, nonpartisan group of business leaders, investors, and professionals from every sector of the economy who advocate for smart policies that are good for the economy and good for the environment. Our members have founded or funded more than 2,500 companies, created more than 600,000 jobs, and managed more than $100 billion in venture and private equity capital. For more information, see www.e2.org or follow us on X/Twitter at @e2org and Bluesky at @e2.org.