Two big renewable energy projects in Colorado not moving forward

Even before President Donald Trump signed his tax and spending bill on the Fourth of July Colorado lost two big renewable potential projects The talk surrounding the budget package caused uncertainty in the sector over how it could impact incentives and financing analysts commented likely leading to the pause in the projects The new law speeds up the phase-out of incentives and tax credits approved in the Biden administration s Inflation Reduction Act which Trump criticized as the green new scam during the presidential campaign Tax credits for rooftop solar will go away at the end of this year and incentives for electric vehicles run out Sept The bill also accelerates portions of the incentives for advanced manufacturing Will Toor executive director of the Colorado Vitality Office declared renewable power provisions in the budget bill will undercut progress of the advanced manufacturing industry in the U S We ve already seen things like the latest announcement about the Amprius battery factory in Brighton where the direct impact of this federal initiative is already causing manufacturers to pull back on their investments and remove economic increase and jobs Toor commented Amprius Technologies declared in that it would open a -square-foot lithium-ion battery manufacturing facility in Brighton that would employ about people in the first phases But in May the California company reported shareholders that it was pausing the project as it monitors region dynamics Amprius CEO Kang Sun revealed in a declaration that while the company has completed the plant s design there are no immediate plans to move forward to the next phase Producing cutting-edge battery technologies at scale in the U S requires a highly capital-intensive process and technical expertise that is still growing he disclosed Meanwhile other countries have spent years building mature cost-efficient battery industries giving them a important head start Sun explained The national organization Environmental Entrepreneurs or E maintains that projects were canceled or put on hold leading up to the debate and approval of Trump s budget bill because of the uncertainty around federal protocol on renewable potency incentives and funds A account by the group announced billion in new factories and clean resource projects have been canceled across the country since Jan as the incoming administration signaled that changes were ahead E and Clean Market system Tracker release frequent updates on the renewable resource and advanced manufacturing industries Susan Nedell senior advocate in the West for E believes the targeting of renewable strength incentives and programs played into the cancellation of plans to build a million factory in Brighton to make solar panels VSK Force Inc a joint venture between India-based Vikram Solar and the private equity firm Phalanx Impact Partners and the growth firm Das Co reported the project in At the time Sriram Das chairman of VSK Potential and managing director of Das Co called the passage of the Inflation Reduction Act a landmark moment for the clean vitality future of the United States A spokesperson proven Wednesday that the Brighton plant isn t moving forward but didn t give a reason Related Articles Smaller nuclear reactors spark renewed interest in a once-shunned strength source Xcel requirements new air permit for Pueblo s Comanche station even as it plans to shutter the coal-fired plant Elbert County nixes permits short-circuiting part of Xcel Strength s B transmission project Millions of tons of coal ash are buried underground in Colorado seeping toxic chemicals into groundwater Colorado launches research into Chevron-owned Noble Potential over Bishop well blowout In Colorado as well as the nation we ll see more cancellations of big projects more jobs lost more layoffs less expenditure in solar and wind because of the uncertainty Nedell explained A spokeswoman for Rep Gabe Evans a Republican whose district includes Brighton explained Amprius had been reconsidering the Brighton location since March according to news reports months before the text of the budget bill was published Evans joined largest part of his fellow Republicans in Congress to sponsorship the budget bill However the congressman s spokeswoman Delanie Bomar and a spokeswoman for Pivot Power which develops solar and power storage projects in Colorado announced Evans worked to ensure that renewable strength tax credits weren t abruptly eliminated as specific required and a proposed excise tax on wind and solar wasn t imposed As the representative for one of the highest resource producing districts in the country I fought hard to protect the clean potential tax credits in the One Big Beautiful Bill and ensure the tax on clean power was removed Evans declared in a announcement Toor of the Colorado Vitality Office declared the state remains committed to boosting the use of renewable potency and addressing atmosphere change The underlying economics are still there Wind and solar are both still highly competitive Electric vehicles will still cut your fuel bill Get more business news by signing up for our Economic system Now newsletter