In the last days of the Biden administration, the Energy Department dolled out billions of dollars for politically favored green energy projects. The Trump administration is looking to claw this funding back.
The Energy Department is getting ready to "cancel seven major loans and loan guarantees that had been conditionally approved under the Biden administration," reports Semafor. This action will cancel approximately $5 billion worth of funding for a transmission project by a New Jersey utility company, a loan program for low-income homeowners to install rooftop solar panels by Sunnova, and a Monolith Nebraska factory to produce low-carbon ammonia. The remaining four projects, which collectively received over $3 billion, include three battery factories and a plastics and recycling facility, which "were already previously cancelled by their companies because of other various headwinds," according to Semafor.
The three active projects that will have their federal loans axed have faced their own share of problems.
