Republican districts lose billions as clean energy cancellations surge
Rendering: FREYR Clean energy investments took a serious hit in January, sinking to their lowest point since the Inflation Reduction Act (IRA) supercharged the industry with tax credits and incentives. Growing uncertainty around the future of these policies – especially with the Republican-majority Congress debating potential rollbacks – has led to a sharp drop in new projects and an increase in cancellations, reports E2. Last month, companies announced just $176 million in new clean energy-related factories and projects. That’s the lowest monthly total since August 2022 and only the fourth time investments failed to reach at least $1 billion, according to E2, a nonpartisan group that tracks investments and projects and advocates for policy that’s good for the economy and the environment. Meanwhile, clean energy project cancellations are stacking up. FREYR Battery just scrapped plans for a $2.6 billion battery factory in Georgia (rendering pictured), which would have created 700 jobs. Ford CEO Jim Farley also sounded the alarm this week, warning that tariffs and shifting policies could force the automaker to lay off workers. …