July 16, 2025
H.R. 1, the “One Big Beautiful Bill Act” signed into law by President Trump on July 4, 2025, marks a dramatic shift in U.S. energy policy with accelerated phaseout of the wind and solar tax credits established under the Inflation Reduction Act of 2022. The rollback of long-term incentives is expected to significantly slow the pace and scale of renewable energy development and increase uncertainty for investors and developers at a time of rising electricity demand and mounting grid challenges. The sweeping changes under H.R. 1 will have wide-ranging effects across the U.S. economy, particularly in the energy sector, compelling many developers, investors and asset owners to reassess their strategies and investment plans.
