The U.S. Department of Energy announced the cancellation of over $3.7 billion worth of taxpayer funding for 24 clean energy and climate projects. This decision represents a significant reduction in federal support for the clean energy sector.
The grants were intended for various clean energy initiatives, and their cancellation impacts hydrogen startups like Plug Power, as well as solar-power providers. This move signals a potential shift in government funding priorities for renewable energy.
The reduction in federal grants creates uncertainty for future clean energy projects and could lead to increased reliance on private financing or alternative funding mechanisms for companies operating in this space.
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