Green Energy Investments in the USA Face Billions in Losses

Investments in green energy worth 22 billion dollars have been drawn in in the USA during the first half of the year, according to the research group E2. 16,500 jobs have disappeared in the sector during the period.

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Green Energy Investments in the USA Face Billions in Losses
Photo: Carlos Osorio/AP/TT

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The Trump administration's skepticism towards the green industries and the phase-out of support for electrification and fossil-free energy is becoming increasingly clear.

Just in June, 5,300 jobs were lost and investments worth $2.1 billion (20 billion kronor) in previously announced green energy investments were withdrawn or scaled down, according to E2.

Recently, it is primarily within the automotive industry that has slowed down, where, among other things, General Motors and Toyota have scrapped factory plans in Michigan and Indiana, respectively.

"These canceled projects are not just numbers in a balance sheet. It's about jobs, salary payments, and opportunities in communities that counted on these projects for clean energy to drive economic growth. And now they're gone," says Michael Timberlake, E2's communications manager, in a press release.

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By TTEnglish edition by Sweden Herald, adapted for local and international readers

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