The Environmental Protection Agency moved to scrap the program approved under the Inflation Reduction Act of 2022 after Trump’s tax bill slashed the funding for it.
The governors of Arizona and Wisconsin criticized the Trump administration on Thursday for gutting a $7 billion Biden-era grant program focused on expanding solar energy access to nearly a million lower-income U.S. households.
“President Trump ran on lowering costs and creating jobs. Gutting Solar for All will do the exact opposite. It makes our air dirtier, our energy bills higher, and our economy weaker,” said Arizona Governor Katie Hobbs on X.
On Thursday, Environmental Protection Agency Administrator Lee Zeldin moved to scrap the program approved under the Biden-era Inflation Reduction Act of 2022, following the Trump administration’s reduction in funding for it.
“The bottom line is this: EPA no longer has the statutory authority to administer the program or the appropriated funds to keep this boondoggle alive,″ Zeldin said in a post on X. “Today, the Trump EPA is announcing that we are ending Solar for All for good, saving US taxpayers ANOTHER $7 BILLION!”
The Biden administration had awarded the grants in 2024 to 60 nonprofit groups, tribes, and states to install rooftop solar and solar community gardens. According to data from the research firm Atlas Public Policy, only $53 million of the $7 billion awarded has been spent.
“As energy demand continues to grow, ending this program is unfathomable,” Wisconsin Governor Tony Evers wrote on X.
Since taking office for a second time, Trump has criticized solar and wind energy on several occasions, calling them inefficient. Instead, the Republican President’s administration has focused on boosting fossil fuel production.
Yet, retail sentiment on Stocktwits about residential solar firm Sunrun was still in the ‘extremely bullish’ territory at the time of writing.
The stock had gained 32% on Thursday following a strong second-quarter profit beat and subsequent price target hikes from brokerages.
According to The Fly, BMO analysts noted that management demonstrated a path to a “safe harbor” current volume run rate of installations through 2030, which likely propelled the stock.
Sunrun shares have gained over 26% this year.
For updates and corrections, email newsroom[at]stocktwits[dot]com.<