FREYR battery factory Georgia. Rendering: FREYR
The Trump administration’s rollback of clean energy policies has now cost the US nearly 470,000 jobs and $68 billion in private investment, according to a new report released today.
The US renewables sector is growing faster than fossil fuels, but a new report reveals the scale of growth it would be at if it weren’t for obstructive federal policy from the Trump administration. The report, published by nonpartisan business group E2 and based on analysis by BW Research, examined 216 large-scale clean energy manufacturing and power projects that have been canceled, closed, or scaled back since January 2025.
According to E2’s report, the projects would have added more than $90 billion to US GDP during construction and an additional $55 billion each year once they were online.
The lost investment is substantial as well. E2 estimates that $68.2 billion in private capital investment has been scrapped, along with another $48.4 billion in annual operational spending that would have continued flowing through local economies. Workers also miss out: The projects would have generated an estimated $53 billion in construction wages and another $31 billion in annual wages after opening.
The report also estimates that federal, state, and local governments will miss nearly $20 billion in tax revenue from construction alone, plus another $12 billion in revenue each year the projects would have been operating.
E2 says the cancellations have accelerated as federal policy shifted away from clean energy. The group points to Trump’s big bill act’s rollback of tax incentives, along with broader administration actions that have slowed or blocked solar, wind, battery storage, and offshore wind projects.
“The numbers tell the story. Making it harder to build clean energy projects means lost jobs, lost investments, lost electricity supplies, and lost local tax revenues,” said E2 executive director Bob Keefe. “Add it all up, and it’s clear that federal actions to stop clean energy are costing all of us – consumers, businesses, and our national economy – big time.”
Some sectors have been hit harder than others. Battery storage projects account for the biggest loss in construction jobs, with more than 42,000 disappearing. Solar projects account for nearly 33,000 lost construction jobs, while EV projects account for almost 28,000.
Once those projects would have come online, EV manufacturing represents the largest long-term loss, with nearly 255,000 permanent jobs no longer expected to materialize. Battery storage projects account for almost 64,000 permanent jobs, while solar projects account for nearly 19,000.
“Clean energy has been a major economic driver over the past decade, creating hundreds of thousands of jobs across a wide range of roles in manufacturing, construction, and professional services,” said BW Research Partnership CEO Phil Jordan. “Accurate, current information on jobs in the energy sector has never been more important.”
The report underscores what’s being lost at a time when electricity demand is surging. AI data centers, electrification, and new manufacturing are driving a rise in power demand across the US, yet the canceled or downsized projects include roughly 10 gigawatts of solar, 3.75 GW of wind, and 9 GW of battery storage — enough capacity to power around 3 million homes. That’s the equivalent of the number of households in Massachusetts.
The report doesn’t just count the jobs at canceled factories and power plants. It also factors in the suppliers, contractors, and local businesses that would have benefited from those projects, as well as the broader economic ripple effects.
“The losses go far beyond the direct jobs announced by companies, said E2 director of research and publications Michael Timberlake. “Every canceled factory or power project means fewer construction workers on site, fewer suppliers filling orders, fewer dollars flowing through local economies, and fewer tax revenues for schools, fire departments, roads, and public services.”
Read more: EIA: Renewables just hit 30% of US electricity generation
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