⚡ Trump Moves to Kill $7B Solar Program, Targeting Biden’s Climate Legacy
The Trump administration is preparing to cancel “Solar for All” — a $7B clean energy initiative launched under Biden to help 900,000 low-income households install rooftop solar. Funded by the Inflation Reduction Act, the program aims to cut electricity bills and emissions. But only $53M has been spent so far.
EPA chief Lee Zeldin plans to send termination letters to 60 grantees, calling the initiative a “green slush fund” lacking oversight. The move is backed by the new One Big Beautiful Bill, which enables the reclaiming of unspent climate funds. Trump has criticized solar and wind as “unreliable,” pushing instead for fossil fuels to “unleash American energy.”
This step is part of a broader rollback of over 70 Biden-era climate policies, including ending offshore drilling bans and reopening coal production.
📉 The announcement sparked strong backlash. Environmental groups, Democratic lawmakers, and even some red states like Georgia warn that the EPA has no legal authority to cancel funds approved by Congress — and lawsuits are expected.
Supporters of the repeal, mostly conservatives, argue that taxpayer money should prioritize “cheap, reliable” energy, not “woke green subsidies.”
📊 Market impact: Solar stocks ($ENPH, $FSLR) face pressure as government support weakens. In contrast, fossil fuel and nuclear-related stocks ($OKLO, $SMR) are rising on hopes of fast-tracked projects.
🔮 With most funds unused, the cancellation could proceed quickly — unless blocked by court injunctions. If successful, the U.S. may slow its energy transition and weaken its global climate credibility. If lawsuits prevail, the program could be restored — though legal uncertainty may still deter investment.
⚖️ The U.S. is now split between fossil-fueled independence and climate-centered reform — and the outcome could shape the global energy landscape for years.
