About Cancellation of energy storage projects
Clean energy manufacturers canceled, closed or downsized nearly $8 billion in projects in the first quarter of 2025, as the Trump administration’s rollback of support for the sector sets in.
Clean energy manufacturers canceled, closed or downsized nearly $8 billion in projects in the first quarter of 2025, as the Trump administration’s rollback of support for the sector sets in.
Companies canceled, closed or downsized nearly $8 billion in projects in Q1. Kore Power’s $1.25 billion facility would have expanded commercial battery cell production and brought 3,000 jobs to Buckeye, Arizona. The company canceled plans for the project earlier this year. Courtesy of Kore Power.
Taiwan has recently witnessed a wave of cancellations in energy storage projects. Notable companies like Tung Ho Steel, North Star Petroleum, and Chia Hsin Cement have halted their storage plans within just over a month. What is driving this trend in Taiwan’s storage market? In April 2023, Tung Ho.
In a major policy shift towards electricity market liberalization, China has introduced contract for difference (CfD) auctions for renewable energy plants and removed the energy storage mandate, which has driven up to 75% of the nation’s demand to date. S&P Global expects the move to reverberate.
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5 FAQs about [Cancellation of energy storage projects]
Why did the DOE cancel energy projects?
In a terse press release on May 30, the DOE cited “a thorough and individualized financial review” in its justification for canceling the awards, asserting the projects “failed to advance the energy needs of the American people, were not economically viable and would not generate a positive return on investment.”
Is the energy storage mandate a big change?
This is a big change towards rationalization of renewables but hidden within that is a removal of the energy storage mandate,” George Hilton, research and analysis manager at S&P Global, tells ESS News. S&P Global estimates that the storage mandate has driven between 50 and 75% of domestic demand.
Did the DOE rescind a power project?
The DOE shared the names of the projects with POWER on June 3, but it did not provide project-specific justifications or documentation supporting its economic viability claims. Among the rescinded awards are four major carbon capture initiatives tied directly to coal-fired and natural gas–fired power plants.
How many projects were cancelled during election day?
Of the 24 awards cancelled, “nearly 70% (16 of the 24 projects) were signed between Election Day and January 20,” the agency noted. Over the past week, speculation has mounted about which projects were terminated.
How much of the DOE canceled hydrogen awards have been disbursed?
According to reporting by E&E News, the DOE has indicated only $99 million of the $3.7 billion in canceled awards had been disbursed. The outlet also noted that the agency may cancel additional awards—including several hydrogen hubs—following a broader review this summer.
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