Chinese clean energy companies would be excluded from tax benefits they enjoyed under the Inflation Reduction Act (IRA), should the One Big Beautiful Bill Act, currently considered by the U.S. Congress, become law.
The act, a budget reconciliation package aimed to implement President Donald Trump’s policy agenda, was passed by the House of Representatives early Thursday by one vote. China solar importers are asking the Senate to change course in their version of the bill.
The IRA, signed into law by President Joe Biden in 2022, is often dubbed the “Green New Deal.” It provided tax write-offs to clean energy producers and manufacturers, primarily of EV batteries, battery storage, solar, and wind.
For China, the IRA was mostly a solar story.
China is the world’s No. 1 solar manufacturer. Its solar companies account for eight out of the top 10 globally, according to researchers at Photovoltaic Brand Lab.
Since the law, no other country has invested more in solar projects in the United States than China.
Hellbound and Down 