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US green energy firms brace for federal funding cuts
Billions of dollars of US federal funding for green energy projects hangs in the balance.
Meanwhile, the fate of the IRA, which the Congress has the power to amend or repeal along with the IIJA, is being decided, in part, by the budget bill, which aims to permanently extend President Trump's first term tax cuts by making savings elsewhere. The IRA's energy tax credits are "multiple times" larger than initial estimates, and expose American taxpayers to "potentially unlimited liability" noted a recent report from the libertarian Cato Institute advocating their full repeal. Tariffs, which will increase factory construction costs if components need to be imported, are an extra factor that may negatively influence project decisions going forward, notes Anthony DeOrsey of the Cleantech Group research and consulting firm.
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