• Cancellations now total $15.5 billion since January; nearly 12,000 jobs lost

  • GOP districts see $9 billion in investments; 10,000 jobs disappear due to cancelled or delayed projects so far

  • $444 million in new investments announced in May don’t offset cancellations

WASHINGTON – As the U.S. Senate prepares to vote on massive tax and spending bill that would increase taxes on clean energy factories and projects, businesses canceled another $1.4 billion in new factories and clean energy projects in May, according to E2’s latest monthly analysis of clean energy projects tracked by E2 and Clean Economy Tracker.

The latest cancellations – including battery, electric vehicle and solar panel factories in West Virginia, New York, Alabama, Arizona and Washington – mean $15.5 billion in new factories and electricity projects have been cancelled since January 1. The cancelled projects were expected to create nearly 12,000 new jobs.

Republican congressional districts are losing the most. More than $9 billion in investments and almost 10,000 jobs have been cancelled, delayed or closed in Republican districts so far in 2025. Over $1.8 billion and nearly 1,200 jobs have been lot in Democratic districts.

The $1.4 billion in projects cancelled in May were expected to create at least 1,000 new jobs. Another 600 workers were laid off across five closures announced last month. May’s cancellations also include GM’s decision to cancel plans for an EV factory in Tonawanda plant in New York and instead shift its investments there to build 8-cylinder gas vehicles.

Following is a statement from MICHAEL TIMBERLAKE, E2 COMMUNICATIONS DIRECTOR:

“The consequences of continued policy uncertainty and the expectation of higher taxes on clean energy businesses are becoming painfully clear. Businesses are reacting to the Senate’s proposal—like the House’s— that would drastically scale back the very tax credits that had been driving an American energy and manufacturing boom. 

“These cancellations are just the first shoe to drop. With renewable energy supplying more than 90 percent of new electricity in America last year, canceled projects will likely mean less available energy and higher electricity prices for consumers and business alike.”

Amid the cancellations, businesses in May also announced nearly $450 million in investments for new solar, EV and grid and transmission equipment factories across five states – including a $120 million investment by electric vehicle maker Rivian to build 1.2 million-square-foot supplier park in Illinois that is expected to create 100 new jobs. Separately, Prolec-GE Waukesh announced plans for a $140 million electricity transformer manufacturing facility in North Carolina expected to create 330 new jobs. Combined, the eight projects announced in May are expected to create at least 1,310 new permanent jobs if completed.

Through May, 62 percent of all clean energy projects announced—along with 71 percent of all jobs and 82 percent of all investments —are in congressional districts represented by Republicans.

According to a separate report from the Clean Energy Buyers Association, average household utility bills would rise by more than $110 per year and businesses would see at least a 10 percent increase in energy costs if Congress goes forward with its plans to repeal clean energy tax credits.

May’s announcements bring the overall number of major clean energy projects tracked by E2 to 397 across 42 states and Puerto Rico. Companies have said they plan to invest nearly $132 billion in these projects and hire 123,000 permanent workers. (These figures reflect ongoing revisions and updates).

Since federal clean energy tax credits were passed by Congress in August 2022, a total of 53 announced projects have been cancelled, closed, or downsized. More than 21,000 jobs and $18.2 billion in investments were connected with the abandoned projects.

A full map and list of announcements is available at e2.org/announcements/. Cancellation data will be incorporated in the coming months.

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Detailed below is a list of May clean energy announcements tracked by E2 along with totals by state, sector, congressional district, and industry type for projects announced, cancelled, downsized, and closed since E2 began tracking in August 2022.

Clean Economy Works May 2025 | projects announced by date

Date Company/Org State Source Sector Type Jobs Investment
5/5 Rivian IL Link EV Manufacturing 93 $119,600,000
5/6 Commercial Solar Panel Recycling NJ Link Solar Recycling
5/9 HSP US LLC NC Link Grid, Transmission and Electrification Manufacturing 74 $50,000,000
5/12 Reinhausen Manufacturing TN Link Grid, Transmission and Electrification Manufacturing
5/13 Damera IL Link EV Manufacturing 90 $31,500,000
5/14 Hyosung Hico TN Link Grid, Transmission and Electrification Manufacturing 123 $50,800,000
5/14 Prolec GE Waukesha NC Link Grid, Transmission and Electrification Manufacturing 330 $140,000,000
5/20 GTI Energy AZ Link Grid, Transmission and Electrification Manufacturing 600 $53,000,000

Clean Economy Works 2025 | projects cancelled, closed, downsized by date 2022-2025

Date Developer State Update Link Sector Type Jobs Lost Investments Lost
1/10/23 Philadelphia Solar TX Cancelled Link Solar Manufacturing 150
1/19/23 Proterra CA Closure Link Battery/Storage Manufacturing 300
6/13/23 Lightning eMotors CO Downsized Link EV Manufacturing 80
6/27/23 Nu Ride (formerly Lordstown Motors) OH Closure Link EV Manufacturing 450 40,000,000
6/30/23 Microvast KY Cancelled Link Battery/Storage Manufacturing 562 504,000,000
10/31/23 Orsted NJ Cancelled Link Wind Generation
10/31/23 Orsted NJ Cancelled Link Wind Generation
11/10/23 Siemens Gamesa VA Cancelled Link Wind Manufacturing 260 200,000,000
12/16/23 Lightning eMotors CO Closure Link EV Manufacturing 250
5/6/24 Canoo AR Closure Link EV Manufacturing 545
7/19/24 VSK Energy CO Cancelled Link Solar Manufacturing 900 250,000,000
8/2/24 Applied Materials VA Cancelled Link Battery/Storage Manufacturing 90 109,000,000
8/12/24 Lear Corporation MI Cancelled Link EV Manufacturing 167 80,000,000
8/12/24 Lear Corporation MI Cancelled Link EV Manufacturing 167 16,250,000
8/12/24 Lear Corporation MI Cancelled Link EV Manufacturing 166 16,250,000
8/15/24 Piedmont Lithium TN Cancelled Link Battery/Storage Manufacturing 120 600,000,000
8/26/24 Meyer Burger CO Cancelled Link Solar Manufacturing 350 400,000,000
9/10/24 Wheatland Tube IL Closure Link Solar Manufacturing 237 0
11/27/24 TotalEnergies NY Cancelled Link Wind Generation 1,300
11/27/24 TotalEnergies NJ Cancelled Link Wind Generation 1,300
12/2/24 Lion Electric IL Closure Link EV Manufacturing 1,418 70,000,000
12/10/24 Nippon Denkai GA Cancelled Link Other Manufacturing 250 430,000,000
12/31/24 ZF MI Cancelled Link EV Manufacturing 536
1/2/25 REC Silicon WA Closure Link Solar Manufacturing 244
1/17/25 Solar Partners CA Downsized Link Solar Generation 2,200,000,000
1/24/25 Prysmian MA Cancelled Link Wind Manufacturing 100 200,000,000
1/28/25 Magnis Energy Technologies NY Downsized Link Battery/Storage Manufacturing 80 140,000,000
2/4/25 Kore Power AZ Cancelled Link Battery/Storage Manufacturing 3,000 1,200,000,000
2/5/25 Envision AESC SC Cancelled Link Battery/Storage Manufacturing 1,080 1,500,000,000
2/6/25 Freyr Battery GA Cancelled Link Battery/Storage Manufacturing 723 2,570,000,000
2/11/25 Canoo OK Closure Link EV Manufacturing 2,000
2/11/25 Canoo OK Closure Link EV Manufacturing $320,000,000 (total)
2/11/25 Canoo OK Closure Link EV Manufacturing 500 $320,000,000 (total)
2/11/25 BorgWarner MI Closure Link EV Manufacturing 188 (total) 10,600,000
2/11/25 BorgWarner MI Closure Link EV Manufacturing 188 (total) 40,000,000
2/17/25 Aspen Aerogels GA Cancelled Link EV Manufacturing 250 325,000,000
2/24/25 Air Products NY Cancelled Link Hydrogen Generation 90 500,000,000
2/24/25 Nikola AZ Downsized Link EV Manufacturing 315
2/27/25 Ascend KY Downsized Link Battery/Storage Manufacturing 130 310,000,000
3/3/25 Bosch SC Cancelled Link Hydrogen Manufacturing 350 200,000,000
3/11/25 Proterra SC Downsized Link Battery/Storage Manufacturing 90
4/14/25 Stellantis IL Cancelled Link Battery/Storage Manufacturing 1,000 3,200,000,000
4/17/25 SungEel HiTech Co GA Cancelled Link Battery/Storage Manufacturing 104 37,000,000
4/25/25 RWE SC Cancelled Link Wind Generation 1,100,000,000
4/28/25 Juniper Power MA Cancelled Link Battery/Storage Manufacturing 170,000,000
5/8/25 Cleveland-Cliffs WV Cancelled Link Grid, Transmission and Electrification Manufacturing 600 150,000,000
5/13/25 OneD Battery Sciences WA Closure Link Battery/Storage Manufacturing 20 15,000,000
5/14/25 Li-Cycle AL Closure Link Battery/Storage Manufacturing 45
5/14/25 Li-Cycle AZ Closure Link Battery/Storage Manufacturing 40
5/14/25 Li-Cycle NY Closure Link Battery/Storage Manufacturing
5/14/25 Li-Cycle NY Cancelled Link Battery/Storage Manufacturing 270 960,000,000
5/27/25 General Motors NY Cancelled Link EV Manufacturing 300,000,000
5/29/25 Meyer Burger AZ Closure Link Solar Manufacturing 500

Clean Economy Works | total projects announced by year Aug. 2022-May 2025

Year Projects Jobs Announced Investment Announced
2022 72 31,131 $43,489,500,000
2023 193 60,157 $64,491,700,000
2024 86 19,952 $19,649,229,000
2025 46 11,674 $5,113,700,000

 Clean Economy Works | total projects cancelled, closed, downsized by year 2022-2025

Year Projects Jobs Announced/Lost Investment Announced/Lost
2022 0 0 0
2023 9 2,052 $744,000,000
2024 14 7,546 $1,971,500,000
2025 30 11,719 $15,447,600,000

 Clean Economy Works | total projects announced by sector Aug. 2022-May 2025

Sector Projects Jobs Announced Investment Announced
Battery/Storage 64 26,637 $42,151,100,000
Biofuel 1 40 $0
Energy Efficiency 1 200 $6,000,000
EV 151 64,513 $82,875,800,000
Geothermal 1 0 $0
Grid, Transmission and Electrification 38 6,993 $4,367,659,000
Hydrogen 19 3,556 $6,139,600,000
Semiconductor 0 1,970 $5,375,000,000
Solar 94 31,474 $17,352,370,000
Wind 28 3,254 $4,060,500,000

*totals will not match overall figures as some projects are categorized into multiple sectors

Clean Economy Works | total projects cancelled, closed, downsized by sector Aug. 2022-May 2025

Sector Projects Jobs Announced/Lost Investment Announced/ Lost
Battery/Storage 19 8,154 $11,315,000,000
Biofuel 0 0 $0
Energy Efficiency 0 0 $0
EV 26 9,924 $6,571,100,000
Geothermal 0 0 $0
Grid, Transmission and Electrification 1 600 $150,000,000
Hydrogen 2 440 $700,000,000
Semiconductor 0 0 $0
Solar 7 2,381 $2,850,000,000
Wind 7 2,960 $1,500,000,000

*totals will not match overall figures as some projects are categorized into multiple sectors

 Clean Economy Works | total projects announced by type Aug. 2022-May 2025

Type Projects Jobs Investment
Generation 47 3,786 $9,521,370,000
Manufacturing 324 115,600 $116,488,459,000
R&D 16 1,476 $698,900,000
Recycling, Repair, and Maintenance 9 872 $148,500,000

Clean Economy Works | total projects cancelled, closed, downsized by type Aug. 2022-May 2025

Type Projects Jobs Announced/Lost Investment Announced/Lost
Generation 8 2,690 $3,970,000,000
Manufacturing 45 18,627 $14,193,100,000
R&D 0 0 $0
Recycling, Repair, and Maintenance 0 0 $0

 Clean Economy Works | total projects announced by congressional district Aug. 2022-May 2025

Party Projects Jobs Announced Investments Announced
Republican 245 88,867 $109,087,629,000
Democratic 129 30,133 $20,378,000,000
Unknown 23 4,134 $3,278,500,000

Clean Economy Works | total projects cancelled, closed, downsized by congressional district Aug. 2022-May 2025

Party Projects Jobs Announced/Lost Investments Announced/Lost
Republican 26 13,729 $11,442,500,000
Democratic 14 3,210 $2,090,600,000
Unknown 13 4,378 $4,630,000,000

Clean Economy Works | total projects announced by state Aug. 2022-May 2025

State Projects Jobs Announced Investment Announced State Projects Jobs Announced Investment Announced
Alabama 10 1,711 $2,819,200,000 North Dakota 1 0 $0
Arkansas 2 500 $250,000,000 Nebraska 1 0 $0
Arizona 13 3,002 $6,775,000,000 New Hampshire 1 0 $16,300,000
California 15 810 $1,600,000,000 New Jersey 1 0 $0
Colorado 6 1,152 $230,000,000 New Mexico 7 3,442 $2,185,000,000
Connecticut 4 100 $24,800,000 Nevada 7 5,250 $6,600,000,000
Florida 6 450 $176,000,000 New York 13 1,809 $791,000,000
Georgia 33 15,980 $12,881,000,000 Ohio 19 4,934 $7,093,300,000
Iowa 4 102 $17,000,000 Oklahoma 5 1,310 $4,270,000,000
Illinois 9 2,902 $2,714,600,000 Oregon 2 0 $43,000,000
Indiana 13 7,262 $8,679,000,000 Pennsylvania 4 427 $126,100,000
Kansas 3 180 $110,000,000 Puerto Rico 1 800 0
Kentucky 9 2,761 $2,658,900,000 Rhode Island 1 0 $0
Louisiana 6 1,109 $1,719,500,000 South Carolina 32 14,183 $14,492,500,000
Massachusetts 6 1,041 $45,700,000 Tennessee 25 5,604 $5,603,800,000
Maryland 4 325 $316,370,000 Texas 32 14,102 $9,311,000,000
Maine 1 200 $6,000,000 Utah 3 0 $1,000,000,000
Michigan 34 12,149 $12,514,800,000 Virginia 10 1,305 $1,255,000,000
Minnesota 4 700 $155,000,000 Vermont 1 12 $0
Missouri 5 691 $747,000,000 Wisconsin 7 462 $242,000,000
Mississippi 4 2,540 $2,055,000,000 West Virginia 4 850 $1,335,000,000
North Carolina 29 12,757 $21,765,259,000

Clean Economy Works | total projects cancelled, closed, downsized by state Aug. 2022-May 2025

State Projects Jobs Announced/Lost Investment Announced/Lost
Alabama 1 45 $0
Arkansas 1 545 $0
Arizona 4 3,855 $1,200,000,000
California 2 300 $2,200,000,000
Colorado 4 1,580 $650,000,000
Georgia 4 1,327 $3,362,000,000
Illinois 3 2,655 $3,270,000,000
Kentucky 2 692 $814,000,000
Massachusetts 2 100 $200,000,000
Michigan 6 1,224 $163,100,000
New Jersey 3 1,300 $0
New York 7 1,740 $3,000,000,000
Ohio 1 450 $40,000,000
Oklahoma 3 2,500 $320,000,000
South Carolina 3 1,520 $1,700,000,000
Tennessee 1 120 $600,000,000
Texas 1 150 $0
Virginia 2 350 $309,000,000

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:

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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.

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