In a much-needed change, the Trump administration, via the Energy Department’s Office of Energy Dominance Financing, announced the cancellation of nearly $30 billion in Biden-era green energy loans and revisions to another $53 billion following a year-long review of the portfolio.
Explaining the situation, Energy Secretary Chris Wright criticized rushed disbursements in Biden’s final months that exceeded 15 years’ worth of prior totals and emphasized protecting taxpayer dollars while prioritizing affordable, reliable energy. Actions include eliminating $9.5 billion for wind and solar, which was redirected to natural gas or nuclear, and building on prior cancellations, such as $8 billion in grants that halted 223 projects.
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