Report: Clean Energy Manufacturing Investments Dropped $3.4 Billion Last Month

(Washington, D.C. – November 20, 2025) In the face of the administration’s continued attacks on clean, affordable energy, U.S. clean energy manufacturing projects worth more than three billion dollars were cancelled in the month of October – adding to plummeting investments this year in the recently booming sector.

The findings are from a new report by Environmental Defense Fund and Atlas Public Policy. 

“These cancelled clean energy manufacturing projects will cause financial hardships for communities across the country, many of which saw investment for the first time in a generation,” said Ellen Robo, Senior Manager for Clean Air Policy and Analytics at Environmental Defense Fund. “Turning away from clean, affordable, made-in-America technologies will mean our country has fewer manufacturing jobs, dirtier and more expensive energy systems, and reduced competitiveness. Our economy and our planet cannot afford for us to make this mistake.”

U.S. clean energy manufacturing saw historic growth from 2021 through 2024 but crashed this year in the face of hostile policies from the Trump administration. According to the report, in spite of billions in announced new investments and some months of positive growth, clean energy manufacturing investments overall are still significantly lower this year compared to this point in 2024. 

From 2021 to 2024, companies announced more than $220 billion in investments in clean energy manufacturing projects across the U.S. However, policy shifts and funding cuts under the Trump administration have led to cancellations of almost $25 billion of those investments so far in 2025, with a loss of more than 34,000 anticipated jobs. In October, $3.9 billion in clean energy manufacturing projects were canceled and 6,700 anticipated jobs were lost. Those numbers are slightly offset by some new investments, but overall investment are still down by billions. 

Six of the last 10 months have seen negative overall investment, meaning new investments were overwhelmed by cancellations. 

The three states that have been most impacted by cancellations in 2025 to date are Illinois ($4.8 billion), Georgia ($4.5 billion), and North Carolina ($4.2 billion).

Read more in the report and our webpage on clean energy manufacturing.