Idiocracy indeed.
And as a reminder, before leading the U.S. Department of Energy, Wright served as the CEO of Liberty Energy, North America's second-largest hydraulic fracturing company.
Source: International Business Times
The 4 Jul 2026 deadline will end core tax credits for future US wind and solar projects, but not all federal support.
Energy Secretary Chris Wright said on 2 Jul that the Trump administration would 'end the subsidies for wind and solar' after about 35 years. The statute reaches two principal clean-electricity tax credits rather than every federal mechanism that can assist the sector.
Its timing also matters: a project that establishes construction before the cut-off can remain outside the new termination rule.
Wright's statement referred to sections 45Y and 48E of the Internal Revenue Code: the Clean Electricity Production Credit and Clean Electricity Investment Credit. Public Law 119-21, enacted on 4 Jul 2025, amended both provisions to terminate them for wind and solar facilities placed in service after 31 Dec 2027, subject to a construction-date exception.
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