A Republican plan to repeal clean energy tax credits could cost New York over 20,000 jobs and drive up household energy bills, Senator Chuck Schumer warned this week.
Schumer said the plan—passed in the House and tied to Trump’s economic agenda—would gut incentives created by the Inflation Reduction Act, threatening projects and jobs from Long Island to Buffalo.
What’s at stake in New York?
- 20,300 jobs lost if clean energy credits are repealed
- $3.5 billion hit to the state’s GDP by 2032
- Up to $650/year in higher energy bills for New Yorkers
Schumer called the proposal “a gut punch to New York and a gift to China,” warning that without U.S. tax credits, clean energy manufacturing will shift overseas.
Clean energy projects in danger
Key programs targeted by the repeal include:
- Energy Efficient Home Improvement Credit – Up to $3,200 for home upgrades
- Residential Clean Energy Credit – 30% off solar panels and heat pumps
- Clean Electricity Investment Credits – Support for wind, solar, and hydro
- Advanced Manufacturing Credits – Driving growth in battery and EV sectors
- Electric Vehicle Tax Credits – Lower costs for new and used EVs
- Clean Hydrogen Credit – Supporting companies like Plug Power in NY
Real projects, real impact
Since the Inflation Reduction Act passed:
- Empire Wind off Long Island drew $5 billion in offshore wind investment
- Plug Power added jobs in the Finger Lakes and Capital Region with green hydrogen production
- Viridi Parente in Buffalo expanded domestic battery production
- Solar Liberty installed panels using federal incentives
- GE Vernova added a wind turbine line, creating 200 jobs in Schenectady
Schumer said the rollback would not only shutter these projects but also stall America’s energy independence.
“Without these credits,” Schumer said, “families pay more, companies lay off workers, and China wins.”
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