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ARTICLE · 11 JULY 2025

Executive Order On PTC And ITC Beginning Of Construction

President Trump yesterday issued an executive order, "Ending Market Distorting Subsidies for Unreliable, Foreign Controlled Energy Sources" (the "Executive Order")...

United StatesReal Estate and Construction

President Trump yesterday issued an executive order, "Ending Market Distorting Subsidies for Unreliable, Foreign Controlled Energy Sources" (the "Executive Order"), which could have a major impact on wind and solar energy project development, construction, and finance.

Background

President Trump signed into law on July 4 the One Big Beautiful Bill Act (the "Act"), which, among many other changes impacting renewable energy projects, modified the phaseouts for solar and wind projects otherwise eligible for the clean electricity production credit under Section 45Y of the Internal Revenue Code (the "PTC") and the clean electricity investment credit under Section 48E of the Internal Revenue Code (the "ITC").

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