Overview
- Companies canceled, closed, or downsized about $34.8–$35 billion in projects last year, roughly three dollars scrapped for every new dollar announced.
- The industry recorded a net loss of about 38,000 current and future jobs, with the vast majority in manufacturing.
- Electric-vehicle and battery manufacturing were hit hardest, each shedding roughly $21 billion in investment and together losing an estimated 48,000 potential jobs.
- Michigan led state losses with $8.1 billion, with Illinois, Georgia, and New York also seeing multibillion-dollar pullbacks, and Republican-held districts lost $19.9 billion and 24,500 jobs versus $10.6 billion and 12,600 in Democratic districts.
- Drivers cited include a federal pause on offshore wind leasing and the One Big Beautiful Act’s rollback of EV and renewable incentives, while EIA projects all net new 2026 power capacity will be renewable and courts have recently ruled in favor of wind developers.