Solar Industry Sounds Alarm: Trump's Tax Law Could Wipe Out 55 GW By 2030

U.S. solar installation could fall 21% below previously forecasted levels due to U.S. President Donald Trump's signature tax law, which has severely slashed incentives for renewables, according to a report released on Monday.

According to the trade body Solar Energy Industries Association (SEIA) and research firm Wood Mackenzie, the U.S. risks losing a total of 55 gigawatts (GW) of solar deployment by 2030, compared to levels projected before the passage of the One Big Beautiful Bill Act.

Trump has repeatedly criticized wind and solar energy, alleging the wasteful use of land and the misuse of federal incentives. His signature tax and spending bill curbed many of the tax credits for renewable projects and imposed more stringent eligibility requirements for qualifying for the remaining incentives.

“The Trump administration is deliberately stifling investment, which is raising energy costs for families and businesses, and jeopardizing the reliability of our electric grid,” SEIA CEO Abigail Ross stated.

The report stated that solar and storage accounted for 82% of new U.S. electricity capacity in the first half of 2025, with over 77% of all solar capacity installed this year having been built in states won by President Trump, including eight of the top 10 states for new solar installations.

The report also stated that domestic solar module manufacturing capacity grew by 13 GW in the first half of 2025, to a total of 55 GW. However, there were major solar manufacturing project announcements since the second quarter.

“If solar deployment contracts as the report's forecasts project, the Trump Administration's goal of winning the AI race will slip further out of reach,” the SEIA stated.

Retail sentiment on Stocktwits about solar firms has hovered mainly in the bearish territory this year. At the time of writing, traders were 'bearish' about First Solar, Enphase, and Sunrun.

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