The U.S. Department of Energy canceled nearly $8 billion in clean energy awards, with 99% of the cuts falling on blue states. California lost $3.3 billion and Oregon $1.5 billion, wiping out major hydrogen, CCUS and grid projects. Hydrogen funding took the biggest hit at $2.95 billion, including the collapse of California’s ARCHES hub, the Pacific Northwest Hydrogen Association green H2 hub and other initiatives, reflecting a broader retreat in federal support for clean hydrogen. CCUS projects lost another $800 million, with National Cement, Brimstone Energy and Sublime Systems among those hit. Concrete initiatives with integrated carbon capture were the hardest hit technology across this and previous DOE reversals.
Grid and storage funding was also slashed, with $1 billion in reliability and transmission upgrades eliminated across Illinois, Minnesota and New York. Roughly 26% of canceled awards, worth $3.1 billion, were approved after Election Day, highlighting the vulnerability of late-stage DOE commitments to policy shifts.
President Donald Trump’s administration is reportedly weighing an additional $12 billion in clean energy funding cuts. If confirmed, the move would mark one of the largest federal pullbacks in climate funding to date.
Research Highlights:
- Long-Term Capacity Expansion | The Three Eras of Capacity Growth – Enverus Intelligence® Research’s capacity expansion model for the Lower 48, based on forecast load, risked interconnection queues and technology cost curves.
- The State of Power M&A | What Are the Markets Pricing In? – The Enverus Intelligence® Research team explores proprietary economic models and valuation methodology needed to benchmark recent transactions and understand what’s driving sky-high M&A prices.
- The Last Man Standing | ArcLight’s AlphaGen Portfolio Valuation – We examine the potential market value of ArcLight’s AlphaGen thermal portfolio during a period of inflated M&A activity in the power sector.
DID YOU KNOW?
The first road vehicle powered by a hydrogen fuel cell was the Chevrolet Electrovan, introduced by General Motors in 1966. The proof-of-concept automobile was developed using technology adapted from NASA’s Apollo program.
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