U.S. Department of Energy Severs Billions in Climate Project Funding
The U.S. Department of Energy plans to cancel $7.56 billion in funding for energy projects deemed unprofitable to taxpayers. This move is part of a larger $26 billion funding freeze targeting Democratic priorities. California Governor Gavin Newsom opposes the $1.2 billion cancellation for a state hydrogen hub.
The U.S. Department of Energy announced a plan to withdraw $7.56 billion in financing for energy projects, deemed insufficiently profitable for taxpayers. The funding cuts, unveiled as part of a $26 billion freeze, aim to curtail Democratic-led initiatives.
Energy Secretary Chris Wright confirmed that 321 financial awards supporting 223 projects across clean energy, efficiency, and more would be canceled. This decisive move follows President Donald Trump's strategy to scrutinize spending and prioritize taxpayer returns.
California Governor Gavin Newsom has condemned the federal stance, particularly the withdrawal of a $1.2 billion commitment for California's hydrogen hub, vowing to continue pursuing diverse clean energy avenues irrespective of federal decisions.
(With inputs from agencies.)
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