The U.S. Environmental Protection Agency is drafting letters to terminate $7 billion in grants awarded under the Solar for All program, according to people briefed on the plan. The program, created by the 2022 Inflation Reduction Act, funds rooftop and community-solar projects aimed at helping low- and moderate-income households cut electricity costs. If finalized, the action would broaden the Trump administration’s drive to reclaim climate funding approved during President Joe Biden’s tenure. The administration has already moved to rescind $20 billion of the $27 billion in other climate grants authorized by the law, a step that has triggered litigation involving the EPA, the Justice Department and grant recipients. Roughly 60 nonprofit groups and state agencies stand to lose their awards, and several are expected to challenge the cancellations in court. The grants have not yet been fully disbursed, leaving uncertainty over how much money has been spent and whether projects now under contract can proceed.
NYT: $7B FEDERAL SOLAR PANEL GRANTS TO BE PHASED OUT Key Potential Loser negative •Sunrun (RUN) – heavy reliance on subsidies for residential adoption.
US to end $7 billion solar grants program #MacroEdge
😅 11:22:02 AM livesquawk EPA Moves To Cancel $7 Bln In Grants For Solar Energy – NY Times