Overview
- President Donald Trump posted that his administration will not approve new wind or solar projects, calling them the “scam of the century.”
- The move follows tightened federal permitting under Interior Secretary Doug Burgum, USDA’s halt to solar support on farmland, and Commerce’s expansion of Section 232 tariffs to impose 50% duties on wind turbines and parts.
- Renewable energy shares fell after the announcement, with Sunrun, First Solar, Enphase and others sliding as investors priced in fewer U.S. project approvals.
- Electricity prices rose about 5.5% year over year in July, while experts cite surging data‑center demand, higher natural gas costs and grid upgrades as primary drivers rather than renewables.
- PJM’s latest capacity auction cleared 22% higher, and researchers note solar and battery projects dominate interconnection queues, as industry groups and think tanks warn the policy shift could raise consumer costs and slow capacity additions.