Businesses in the U.S. have canceled or delayed over $14 billion in investments in clean energy and clean vehicle factories since January this year due to rising fears surrounding the future of federal clean energy tax credits and policy, according to the latest analysis of clean energy projects tracked by E2.

Companies canceled $4.5 billion in investments in new battery, electric vehicle, and wind projects in April alone. These cancellations occurred before the U.S. House’s passage of a massive tax and spending package, known as the “One Big Beautiful Bill Act,” that could kill federal clean energy tax credits.

E2 also tracked an additional $1.5 billion in newly found canceled projects from the previous months.

Republican congressional districts benefited the most from the clean energy tax credits passed in 2022. Through April, Republican congressional districts hosted over 61% of all clean energy projects, 72% of all the jobs, and 82% of all the investments.

These districts are experiencing the highest number of job cancellations, with over $12 billion and more than 13,000 jobs eliminated as of now.

However, E2 said companies continue to invest in the U.S.’s clean economy potential despite the rising cancellations.

In April, businesses announced nearly $500 million in investments for new solar, electric vehicles, and grid and transmission equipment factories across six states. These investments include a $400 million investment by Corning to expand a solar wafer factory in Michigan, which is expected to create 400 new jobs.

Another major investment is from a Canadian solar equipment manufacturer, valued at $9.3 million, for a new plant in North Carolina.

Seven projects were announced in April. These projects, when combined, are expected to create approximately 3,000 jobs upon completion.

E2 said April’s project announcements increase the overall energy projects it is tracking to 390 across 42 states and Puerto Rico. Companies said they target investing roughly $132 billion in the projects and hiring 123,000 permanent workers. However, these numbers reflect ongoing revisions and updates.

A total of 45 announced projects have been canceled, closed, or downsized since the U.S. Congress passed the federal clean energy tax credits in August 2022. The abandoned projects encompassed nearly 20,000 jobs and $16.7 billion in investments.

“If the tax plan passed by the House last week becomes law, expect to see construction and investments stopping in states across the country as more projects and jobs are canceled. Businesses are now counting on Congress to come to its senses and stop this costly attack on an industry that is essential to meeting America’s growing energy demand and that’s driving unprecedented economic growth in every part of the country,” said Michael Timberlake, Communications Director, E2.

“Now is not the time to raise taxes on clean energy and compound the business uncertainty that is clearly taking a greater and greater toll on U.S. manufacturing and jobs,” he said.

The budget reconciliation bill proposes significant changes that could severely undercut the clean energy sector. If passed in its current form, it would undo many of the long-term tax credit policies that have driven investment and growth in solar, wind, and storage projects.