President Donald Trump signed an executive order on 7 July directing federal agencies to accelerate the phaseout of tax incentives for wind and solar projects that had already been trimmed in the $3.4 trillion budget law he enacted last week. The directive, grounded in the One Big Beautiful Bill Act, asserts that renewable energy is costly, unreliable and dependent on foreign-controlled supply chains. The order instructs the Treasury Department to issue, within 45 days, stricter guidance defining when construction has legitimately begun, limiting the use of safe-harbor provisions and enforcing enhanced “foreign entity of concern” restrictions. Credits for new wind and solar facilities will end after 2026 unless substantial construction is underway, and projects must be online by end-2027—conditions that replace a 30 % credit that previously ran through 2032. The Interior Department has also been told to review and revise any regulations that give preferential treatment to renewables over dispatchable power sources. Both agencies must report back to the White House on their actions within the same 45-day window. Renewable-energy developers are expected to accelerate project timelines to qualify for remaining incentives, according to analysts at Citi. Shares of Sunrun, Enphase Energy and First Solar fell in early trading after the announcement, while the White House said the move would bolster domestic energy security and reduce what it called “market-distorting” subsidies.