WASHINGTON — The U.S. Department of Energy has announced the termination of 24 clean energy projects that had received more than $3.7 billion in public funding. In a statement, the department cited a lack of economic sustainability, insufficient returns for the public, and minimal contribution to the country’s energy needs as reasons for the decision.
According to the announcement, the projects were found, upon review, to offer limited benefits to the American people. As a result, all 24 initiatives have been canceled.
Notably, 16 of the canceled projects were approved between November 5, 2024 — the date of the U.S. presidential election — and January 20, when President Donald Trump officially took office. Most of these projects focused on carbon capture and initiatives aimed at reducing industrial carbon emissions.
U.S. Energy Secretary Chris Wright criticized the former Biden administration for allocating billions of dollars without conducting comprehensive financial evaluations. Wright emphasized that the Trump administration is committed to safeguarding taxpayer money and acting in the best interest of the American people.
“By terminating these 24 projects, we are ensuring that public funds are used responsibly and effectively,” Wright stated.
Source: Bloomberght/ Prepared by: İlayda Gök