Clean Economy Works | June-May 2026 Analysis

Topline Findings

// Developers planned 22 new utility-scale generation and storage projects in May 2026, representing 4,038 MW, approximately $6.1 billion in investment, 17,440 construction jobs, and 453 permanent jobs.

// 12 generation and storage projects were canceled in May, representing 3,488 MW of lost capacity, nearly $5.9 billion in abandoned investment, 18,103 lost construction jobs, and 199 lost operational jobs.

// Year-to-date generation announcements remain ahead of cancellations: 84 projects and 17.3 GW have been announced, compared with 58 projects and 13.3 GW canceled or postponed. 

// Companies announced seven manufacturing projects in June, totaling nearly $5.7 billion in investment and 1,857 jobs. Through June, 31 manufacturing projects representing $8.7 billion and 8,374 jobs have been announced. 

// One manufacturing downsizing affected 705 jobs in June. Year-to-date, 14 manufacturing projects have been canceled, closed, or downsized, representing $4.7 billion in lost investment and 14,482 lost jobs. 

// Manufacturing losses still outweigh gains over the longer term: since the beginning of 2025, companies have canceled $35.4 billion in manufacturing investment and 52,533 jobs, compared with $25.5 billion and 36,457 jobs announced.

// May’s generation cancellations were heavily concentrated in Texas, which accounted for nine of the 12 projects and 3.1 GW of the 3.5 GW canceled during the month. Since 2025, the state has seen 55 manufacturing and generation projects abandoned.

Introduction

This Clean Economy Works (CEW) analysis is part of E2’s ongoing monthly tracking of large-scale clean energy project announcements, cancellations, closures, and downsizes across the United States. This analysis monitors private-sector investment in clean energy manufacturing, generation, and grid infrastructure projects since federal energy tax credits were passed in August 2022. The tracking excludes manufacturing projects that began, were proposed, sited, or in any way began development prior to the federal energy tax incentives of 2022, as well as those funded entirely by federal sources or lacking specific geographic data. Separately, generation projects are tracked throughout all of 2022 and project tracked prior to 2026 are dated by year-only rather than quarter, month, or day (explained further below). CEW measures key indicators including investment value, job creation or losses, project types (manufacturing, generation, storage), and distribution by sector, state, and party affiliation of congressional district.

To improve the accuracy and comprehensiveness of generation project tracking, E2 implemented a major methodology update starting in 2026.  Generation projects are now tracked separately from manufacturing projects using data analyzed by Atlas Public Policy from the U.S. Energy Information Administration Preliminary Monthly Electric Generator Inventory (Form EIA-860M) and related annual generator datasets. The updated methodology focuses exclusively on generation and storage projects of at least 10 megawatts (MW) and provides a more systematic accounting of project announcements, cancellations, construction activity, and operational changes nationwide.  To maintain consistency and clarity across reporting periods, the updated methodology was applied to all other time periods E2 has been tracking new and cancelled projects—going back to 2022 when E2 first began tracking. Because the dataset structure used by EIA identifies project additions and transitions using only the year, historical generation project announcements, construction starts, cancellations, and abandonments could only be dated to the year in which the status change appeared in EIA reporting. Moving forward, E2 will maintain monthly snapshots of the EIA inventory data, allowing future updates to identify generation project changes by both month and year.

For more information on the methodology changes along with other changes to the tracking—including updated sector and technology categories—see the methodology section near the end of this report.

The updated tracking reveals a clean energy economy increasingly split between:

• manufacturing sectors facing severe policy and market uncertainty; and
• generation sectors that continue to see growth in announcements in the lead up to tax-credit elimination in July–but also growing project attrition.

This report analyzes manufacturing and generation projects across three major timelines:

• projects announced or abandoned from the passage of energy tax credits in August 2022 to the end of 2024 (2022-2024);
• projects announced or abandoned since the shift in energy policy by the Trump administration and congress to oppose and block clean energy projects and incentives (2025-Q1 2026); and
• projects announced or abandoned in the most recent assessment (Q1 2026).

Projects Updates (May Generation and June Manufacturing)

Executive Summary

The Clean Economy Works (CEW) analysis tracks large-scale clean energy manufacturing and generation project announcements, cancellations, closures, and downsizes across the United States. Tracking of new announcements began in 2022 after the passage of federal energy tax credits. In 2025, CEW expanded its methodology to comprehensively track cancellations, closures, and downsizes dating back to August 2022, reflecting rising business uncertainty amid increasing policy attacks targeting clean energy industries including the rollback and restriction of key energy tax credits in mid-2025. Temporary delays and ownership transfers that do not reduce production capacity are excluded. In 2026, E2 expanded its methodology again to better track generation projects

This Clean Economy Works (CEW) analysis is part of E2’s ongoing monthly tracking of large-scale clean energy project announcements, cancellations, closures, and downsizes across the United States. This analysis monitors private-sector investment in clean energy manufacturing, generation, and storage projects since federal energy tax credits were passed in August 2022. The tracking excludes manufacturing projects that began, were proposed, sited, or in any way began development prior to the federal energy tax incentives of 2022, as well as those funded entirely by federal sources or lacking specific geographic data. Separately, generation projects are tracked throughout all of 2022 and project tracked prior to 2026 are dated by year-only rather than quarter, month, or day (explained further below). CEW measures key indicators including investment value, job creation or losses, project types (manufacturing, generation, storage), and distribution by sector, state, and party affiliation of congressional district.

Manufacturing projects are tracked through publicly available company announcements, public filings, media reporting, statements by local leaders and other public sources. This analysis is limited to only private-sector investment in clean energy manufacturing and generation projects since federal energy tax credits were passed in August 2022. The tracking excludes projects that were proposed, sited, or in any way began development prior to the passage of federal energy tax credits as well as those funded entirely by federal sources or lacking specific geographic data. Project delays or idling of facilities are not included unless there is an announced decrease in production or investment or unless the project will need to be restarted to proceed in the future.

Job estimates and capital investment figures associated with tracked projects come directly from company announcements or other publicly available data. About one-third of all projects include either no job or investment estimates in their announcements. Project details—including locations, job estimates, and investments estimates—are updated when new publicly available information is provided by companies or media reports.

Generation projects are tracked using data analyzed by Atlas Public Policy from the U.S. Energy Information Administration’s (EIA) Preliminary Monthly Electric Generator Inventory (Form EIA-860M), alongside annual EIA generator data where applicable, as the primary source for monitoring new generation project announcements, construction activity, operational changes, cancellations, postponements, and retirements. Under the EIA dataset structure, historical status transitions and project additions are only identifiable by year rather than by exact month or day as is the case with manufacturing projects. As a result 1) historical generation project announcements, construction starts, cancellations, and abandonments can only be dated to the year in which the status change appeared in EIA reporting, and 2) moving forward, E2 will maintain monthly snapshots of the EIA inventory data, allowing future updates to identify generation project changes by month, quarter, and year.

Investment, construction jobs, and operational jobs listed in the tracking are estimates based on size and technology. For solar, biomass, wind, hydroelectric, and geothermal generators, jobs are estimated using multipliers derived from the National Renewable Energy Laboratory Jobs and Economic Development Impacts (JEDI) models. For battery projects, construction jobs are estimated using a multiplier from a separate National Renewable Energy Laboratory study (operations jobs are not estimated due to lack of adequate data). Construction jobs represent the total full-time equivalent workers (FTEs) required over the entire construction period, which varies by generator type, and operations jobs represent FTEs per year that the project is operating.Capital expenditure is estimated by multiplying the nameplate capacity of each project by CAPEX multipliers from the National Renewable Energy Laboratory 2024 Annual Technology Baseline, considering the technology type and operating year. Values are converted to 2024 dollars using Consumer Price Index Data from the Bureau of Labor Statistics. See the full methodology here.

Because EIA generator inventory data is released as periodic monthly snapshots and may include reporting delays from developers, generation project updates lag manufacturing tracking by one month.

Together, the data provide a clear picture of a U.S. clean energy economy that entered 2025 with momentum—but exited the year facing mounting instability, record reversals, and eroding investor confidence—A concerning trend that has continued into 2026