Policy
The One Big Beautiful Bill Act (OBBBA) is federal legislation signed into law on July 4, 2025, that phases out several clean energy tax incentives originally enacted under the Inflation Reduction Act. The bill accelerates the sunset of the 30% Investment Tax Credit (ITC) and Production Tax Credit (PTC) for projects placed in service after December 31, 2027, tightens technology-neutral credits with stricter domestic-content requirements, and repeals the $27 billion Greenhouse Gas Reduction Fund. Additionally, it rolls back federal clean-power procurement mandates and expands oil, gas, and coal leasing with quarterly lease-sale quotas and lower royalties. The legislation represents a significant shift in U.S. energy policy, reducing federal support for renewable energy development while accelerating fossil fuel production. However, existing operational renewable assets and projects under construction remain unaffected by these changes. For more detailed analysis of the bill's impact on renewable energy markets, see our comprehensive analysis of the One Big Beautiful Bill's renewable energy impact .