The U.S. Department of Energy terminated 223 clean energy and renewable initiatives on Thursday, citing failure to meet economic and security standards. The decision impacts projects funded under the Biden administration, with $8 billion in allocated funds now canceled.
Russell Vought, White House budget director, described the terminated projects as part of a "Green New Scam" on social media platform X. The move follows a May decision to cut support for 24 emerging energy technology projects and aligns with a broader federal funding freeze during the government shutdown.
Local media reports indicate the freeze has stalled approvals for new wind and solar projects while allowing oil and gas activities to continue using existing funds. Analysts suggest the cancellations reflect ongoing political debates over climate investment priorities.
This development may influence global clean energy markets, where U.S. policy shifts often ripple through international supply chains and investor strategies. Researchers note the cancellations could delay technological advancements in renewable storage and grid modernization efforts.
