The Big Beautiful Bill is close to passing. What would it mean for clean energy in the US?

4 snips

Jul 3, 2025

Robbie Orvis, Senior Director at Energy Innovation, and Jeremy Horan, VP at ACORE, join to unpack the implications of the recent budget reconciliation legislation. They discuss the potential decline in wind and solar investments, increased reliance on natural gas, and a promising outlook for battery storage. The duo also tackles the complexities introduced by new regulations on foreign entities, which could hinder progress in renewable projects. The conversation dips into how global geopolitical tensions, particularly in Iran, are reshaping U.S. energy markets.

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ANECDOTE

Oil Spill Scare at Hormuz

Amy Myers-Jaffe explains how a small oil spill and collision near the Strait of Hormuz caused alarm but was not materially damaging.
Despite fears, the Strait remained open, and oil markets collapsed after initial spikes due to speculative frenzy.

INSIGHT

Hormuz Threats' Price Impact

History shows threats of closing the Strait of Hormuz often cause oil price spikes followed by quick collapses.
Markets believe risk has eased despite ongoing geopolitical tensions; future changes remain possible.

INSIGHT

Mutually Assured Oil Destruction

Iran's reliance on Karg Island oil export terminal makes it reluctant to target its oil infrastructure severely.
Past conflicts show damaging oil infrastructure has long recovery times, disincentivizing severe damage.

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This week the US budget reconciliation legislation, dubbed the ‘One Big Beautiful Bill’, squeaked through the Senate on a 51/50 vote. The bill has wide-ranging implications for energy in the US, including an imminent end to tax credits for wind and solar power.

To discuss what the new legislation means, host Ed Crooks is joined by regular guest Amy Myers-Jaffe, director of NYU’s Energy, Climate Justice and Sustainability Lab. Also joining the show are Robbie Orvis, senior director of Modeling and Analysis at the think-tank Energy Innovation, and Jeremy Horan, VP for Government Affairs at ACORE, the American Council on Renewable Energy.

They discuss some of the key implications of bill: less investment in wind and solar, increased use of natural gas, and a relatively bright outlook for battery storage. And they explain the dramatic twists and turns of the past few days that have brought us to where we are today.

They also dive into the impacts of the dreaded rules on FEOC: Foreign Entities of Concern. These are new regulations intended to ensure that companies controlled by China and Russia, among others, don’t benefit from US energy subsidies. But they will have the effect of tying the industry up in a mountain of new red tape.

Before that, Ed and Amy talk about an even more dramatic event in global energy: the US intervention in the Israel-Iran conflict. The US dropped 30,000 pound ‘bunker-buster’ bombs on Iranian nuclear facilities. Iran retaliated with threats to close the Straight of Hormuz: the critical artery that delivers oil from the Gulf to the West. But by the middle of last week, tensions had eased significantly: there was a ceasefire, and negotiations were under way to agree a lasting peace.

Put it all together, and it adds up to a hectic couple of weeks for the future of energy. Expect in-depth analysis of all the news, and ideas on how the energy industry can prepare for what’s coming.

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