$4.4 billion in renewable energy projects canceled in October
The renewable energy industry continues to see downsizing for projects and other initiatives. Businesses canceled, closed, and scaled back more than $4.4 billion worth of large-scale renewable energy projects and factories in October, bringing the total cost of projects canceled in the private-sector to more than $28.7 billion in 2025 alone, according to E2’s latest monthly analysis of renewable energy projects. The cancellations and scale backs will eliminate nearly 9,000 previously announced and current jobs, bringing the total number of jobs lost to abandoned projects to nearly 30,000 this year.
October’s cancellations and closures (one project was disclosed on Sept. 30) included nine previously announced battery, storage, solar, and electric vehicle factories in Michigan, Mississippi, Ohio and California. Only a single new large-scale project was announced last month according to E2’s tracking — the lowest number of new projects announced in a month since E2 began tracking.
According to the analysis, cancellations, closures, and downsizes are outpacing new project investments and jobs nearly two to one in 2025. About $11 billion in investments and 17,000 jobs have been announced so far in 2025. At the same time, $28.7 billion and nearly 30,000 jobs have been canceled.
“Cancellations are clearly accelerating,” said Michael Timberlake, director of research and publications at E2. “The abandonment of 51 projects this year alone reflects the long-term uncertainty manufacturers and investors are facing about the long-term future of U.S. energy leadership.”
Republican states suffering most
Republican-held congressional districts continue to lose the most from cancellations. Nearly $17 billion in investments that would have created almost 22,000 jobs have been canceled in Republican districts so far in 2025, compared with almost $10 billion and 13,000 jobs in Democratic districts.
“Companies, including many that had already broken ground, begun hiring, or made major capital commitments, are reversing course at an increasing rate,” Timberlake added. “Communities and their constituents are paying the price through lost job opportunities, lost economic development investments and lost tax revenues.”
According to E2’s tracking, new investments were not enough to offset impact from scaled back and abandoned projects. The only new clean energy project announced in October was Eos Energy Storage’s $352 million plans to relocate its headquarters to Pittsburgh and expand its Pennsylvania-based battery manufacturing operation. The Eos project brings total investments announced since E2 began tracking in August 2022 to $132.2 billion.
Cancellations tracked by E2 include projects that were announced or completed prior to August 2022 that are not added to E2’s announcement tracker. This results in inconsistencies between the jobs and investment totals between the cancellation and announcement trackers since many cancelled and closed projects would not impact E2’s announcement tracker.
Total projects announced by year 2022-2025
| Year | Projects | Jobs Announced | Investment Announced |
| 2022 | 70 | 28,831 | $40,369,500,000 |
| 2023 | 191 | 59,165 | $64,144,200,000 |
| 2024 | 86 | 18,970 | $16,437,729,000 |
| 2025 | 70 | 17,275 | $11,374,250,000 |
| Total | 417 | 124,241 | $132,325,679,000 |
Total projects canceled, closed, downsized by year 2022-2025
| Year | Projects | Jobs Lost | Investment Lost |
| 2022 | 0 | 0 | 0 |
| 2023 | 9 | 2,052 | $744,000,000 |
| 2024 | 14 | 7,546 | $1,971,500,000 |
| 2025 | 51 | 29,944 | $28,767,300,000 |
| Total | 74 | 39,542 | $31,482,800,000 |
*Includes projects announced, completed, or operational before federal tax credits were passed that were not counted in E2’s tracking that began in August 2022
To download the analysis memo with table totals by state, sector, industry, congressional district, and year, click here. A full map and list of announcements is available at e2.org/project-tracker/
