in effect
Executive Order 14315, signed July 7, 2025, directs federal agencies to enforce the elimination of tax credits for wind and solar energy facilities and to remove any regulatory preferences those energy types receive on federal lands. It is a presidential directive that instructs the Treasury Department and the Interior Department to act once a separate piece of legislation — the “One Big Beautiful Bill Act” — is enacted.
Within 45 days of the One Big Beautiful Bill Act becoming law, the Treasury Secretary must take steps to strictly enforce the termination of two specific tax credits — the clean electricity production credit (IRC §45Y) and the clean electricity investment credit (IRC §48E) — for wind and solar projects. Treasury must also tighten the “beginning of construction” rules that determine whether a project qualifies for credits, specifically to prevent developers from locking in eligibility through minimal early activity or broad safe-harbor provisions. Treasury must additionally implement restrictions barring companies with significant ties to designated foreign adversaries (“Foreign Entity of Concern” rules) from claiming these credits. Within the same 45-day window, the Interior Department must audit its own regulations and policies to identify any rules that favor wind or solar projects over conventional dispatchable power sources, then revise or eliminate those preferences. Both departments must report their findings and planned actions to the President within 45 days of the order’s signing date (i.e., by approximately August 21, 2025).
Developers, investors, and financiers of wind and solar energy projects are most directly affected, as the order targets the tax incentives that underpin the economics of many such projects. Companies in the wind and solar supply chain that have ties to foreign adversary nations face additional scrutiny and potential ineligibility for any remaining credits. Utilities, grid operators, and electricity consumers may be affected indirectly depending on how the policy changes influence which energy projects get built.