Chambers for Innovation and Clean Energy Statement on the One Big Beautiful Bill Act

On July 3, Congress passed the One Big Beautiful Bill Act (OBBBA). By severely penalizing the only two forms of generation—solar and wind—capable of getting new electrons on the grid quickly and affordably, this bill threatens America’s domestic manufacturing, economic growth, and our ability to meet rising electricity demand.

“While the final bill is less harmful than earlier drafts, the One Big Beautiful Bill Act still puts American economic growth at risk, picks winners and losers in the energy market at a time when we need every single electron on the grid, and represents a step backwards in securing our energy future,” said Ryan Evans, Executive Director of Chambers for Innovation and Clean Energy (CICE). 

Over the past few years, the clean energy tax credits targeted by the OBBBA have fueled an American economic boom. According to the Clean Investment Monitor, companies invested $101 billion in clean energy and EV manufacturing over the last two years alone, and $277 billion across clean energy, clean vehicles, building electrification, and carbon management in just the last four quarters.

A recent study from American Clean Power, endorsed by the U.S. Chamber of Commerce, projected that $740 billion in tax credits would deliver $1.9 trillion in GDP growth and create 13.2 million jobs. Much of this Return on Investment (ROI) will now go unrealized.

Meanwhile, electricity demand will continue to surge, driven by AI, manufacturing, and new data centers. America’s economic leadership—and our edge over China and others in the AI race—depends on our ability to meet that demand. 

With coal now uneconomical, natural gas turbines on 5+ year backlogs, and nuclear and geothermal still at least seven years from deployment, solar and wind remain the only sources ready to meet demand growth in the near term. Yet these are the very technologies most undermined by the OBBBA. The nonpartisan Congressional Budget Office estimates that solar and wind facilities will be 70% more expensive to build once the Investment Tax Credit (ITC) and the Production Tax Credit (PTC) are phased out—meaning higher energy bills for businesses and families, and less certainty we can keep pace with demand.

Critics argue these credits unfairly advantage renewables, but fossil fuels have enjoyed billions each year in direct and indirect subsidies for decades, giving them a lasting financial advantage. These tax credits simply helped level the playing field while newer technologies matured. Even ethanol subsidies—created alongside solar and wind credits under the 1978 National Energy Act—will continue under the OBBBA.  

While the OBBBA makes securing our energy future harder, there is bipartisan work Congress can still do to help: modernizing America’s outdated energy permitting system. Permitting reform is key to modernizing the grid, keeping energy reliable, and ensuring we have enough power for economic growth. Last year’s bipartisan Energy Permitting Reform Act came close to passing—CICE strongly supported that effort, and Congress should revisit it now. Critically, any permitting reform must treat all forms of energy generation fairly and equitably.

“Powering our growing economy reliably and affordably is not optional—it’s imperative. The OBBBA makes that harder by slashing clean energy tax credits when we need them most, added Evans. “Congress should focus on passing meaningful permitting reform that puts all forms of generation on a level playing field.