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 projects that began, were proposed, sited, or in anyway began development prior to the IRA, as well as those funded entirely by federal sources or lacking specific geographic data. CEW measures key indicators including investment value, job creation or losses, project types (manufacturing, generation, research and development), and distribution by sector, state, and congressional district.
Since 2025, this analysis began to include all project cancellations, closures, and downsizings going back to August 2022 due to rising business uncertainty about the future of U.S. clean energy policy, culiminating in the rollback and restriction of energy tax credits included in the federal tax and spending bill passed in July 2025. E2’s methodology excludes temporary delays or ownership transfers that do not impact production capacity. E2’s tracking of cancelled and closed projects includes developments that may not have been counted as an announcement because they had been proposed, announced, broken ground, or opened prior to August 2022.
This dataset provides a comprehensive look at the evolving U.S. clean energy economy—highlighting the impact of federal policy changes, supply chain dynamics, and market shifts on America’s clean energy workforce and investment pipeline.
November Highlights
$574 Million
in new investments abandoned
150
jobs cancelled
$550 Million
in new investments announced
1,540
new jobs announced
Overview
Clean energy project activity in November remained subdued, with companies announcing only five new large-scale manufacturing projects totaling $550 million in investment. While this marks a modest uptick in announcement activity over the previous few months, November also saw the lowest level of project abandonment in over a year. Still, the single cancellation—a $575 million battery storage project in Missouri—was enough to push losses above new investment again.
Through November, cancellations, closures, and downsizes continue to outpace new announcements nearly three to one in both capital investment and job impacts. In total, companies have abandoned more than $32 billion in clean energy investments and nearly 40,000 jobs so far in 2025, compared to just $12 billion in new investment and 19,000 newly announced jobs.
The trends reinforce a central theme of the year: while U.S. clean energy manufacturing continues to expand in pockets, a growing number of companies are reversing course amid uncertainty over long-term federal policy signals—undermining the gains achieved after federal enery tax credits were passed in 2022 and threatening future U.S. global competitiveness.
Cancellation Findings
November saw the fewest cancellations since November 2024, but the single project lost—a $575 million ICL Group battery storage manufacturing facility in Missouri—underscores the scale of capital at stake. The project’s termination also eliminated 150 expected jobs.
Battery and storage projects represent the largest single category of cancellations since August 2022, accounting
Fifty-two large-scale clean energy projects have been canceled, closed, or downsized in 2025—more than any previous year since E2 began tracking. These projects were expected to create at least 39,000 new jobs and included more than $32 billion in planned investments that are now lost.
- Manufacturing facilitiesaccount for nearly all losses—accounting for 45 of the 51 projects abandoned in 2025 and over 29,000 jobs and $24.2 billion in investment lost.
- EV and battery/storage projects continue to drive the majority of cancellations:24 EV projects and 26 battery/storage projects have been abandoned since 2025
- Republican congressional districtshave experienced the greatest economic fallout: 37 canceled projects, 21,916 lost jobs, and $16.9 billion in abandoned investments compared with 25 projects, 13,398 jobs, and $10.4 billion in lost investment in Democratic-held districts, and 13 projects, 4,378 jobs, and $4.6 billion in lost investment where the specific district is yet to be the determined.
Announcement Findings
Companies announced five new clean energy manufacturing projects in November with a combined estimated investment of $550 million and at least 1,800 jobs. Activity was concentrated in the Southeast:
- First Solarannounced a $330 million solar module manufacturing plant in South Carolina, the largest investment and jobs announcement of the month.
- Georgiaemerged as the top state for new November activity, with three projects expected to create 700 jobs and invest $63 million.
- Manufacturing continues to dominate new activity, representingover 80 percent of all projects tracked by E2.
Since E2 began tracking announcements in August 2022, 422 new large-scale propjects have been announced that are still continuing or are now operational. These projects are expected to invest more than $132 billion and employ at least 125,925 permanent workers once completed according to company estimates*.
Conclusion
November’s project activity offers a mixed picture: modest new investment, comparatively low monthly cancellations, but continued net losses that signal persistent fragility across the U.S. clean energy manufacturing ecosystem. Companies announced five new projects totaling $550 million—including major solar and grid equipment investments in the Southeast—yet a single $575 million cancellation in Missouri was enough to push monthly losses above gains once again. This imbalance is emerging at a moment when U.S. clean energy manufacturing should be accelerating; instead, 2025 is now the weakest net year for clean energy industrial growth since E2 began tracking in August 2022.
This contrast highlights a sector increasingly sensitive to policy uncertainty. Even projects that had begun hiring or early development are being reconsidered, leaving communities with fewer jobs and delayed economic growth. At the same time, the continued flow of new manufacturing announcements in places like Georgia and South Carolina shows that some targeted, high-value investments will still continue to move forward.
Taken together, November’s data show a clean energy manufacturing sector that remains active but volatile. Announcements continue, but cancellations are increasingly shaping the net outcome, reinforcing how quickly investment momentum can shift and how consequential individual project decisions are for jobs, supply chains, and local economies.
*Job and investment impacts from announcements and cancellations are based on company estimates or reporting on closed and downsized facilities. About one-third of all projects announced do not include either a job estimate or investment estimate.
About this 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.