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Economic Times
2 days ago
- Business
- Economic Times
Clean energy stocks plunge as Trump's Senate bill slaps new taxes on solar and wind, phases out key credits
AP Clean energy stocks plunge as Trump's Senate bill slaps new taxes (AP Photo/John Locher) Wall Street's clean energy sector was rocked Monday as President Donald Trump's signature 'big, beautiful bill' advanced in the Senate, sending solar and wind stocks tumbling in response to sweeping new taxes and a rapid phase-out of federal tax credits for renewable energy. The legislation, which is at the heart of Trump's second-term agenda, introduces a first-of-its-kind excise tax on wind and solar projects, especially those using components sourced from China, and accelerates the rollback of incentives that have fueled America's clean energy boom since 2005. According to the American Clean Power Association, the new tax is expected to cost clean energy businesses an additional $4–$7 billion by 2036 and could drive up consumer electricity prices by 8% to 10%. The tax applies to all wind and solar projects that begin construction after June 16, 2025, and to any project placed into service after 2027, even those already under construction. The bill also requires projects to prove they are free from Chinese components to avoid the penalty—a near-impossible feat, say industry experts, given the global supply chain. The Senate bill doesn't stop there. It hastens the end of tax credits for wind and solar that were set to run for years under the Inflation Reduction Act, effectively pulling the rug out from under hundreds of planned projects and billions in investment, especially in Republican-leaning states like Texas and Oklahoma. The rooftop solar sector, however, emerged as a rare bright spot: shares of Sunrun and SolarEdge jumped after it was revealed that credits for leased rooftop systems would remain in place until at least the end of leaders and environmental groups were quick to condemn the move. 'This is how you kill an industry,' said Bob Keefe of E2, a nonpartisan business group, while Jason Grumet, CEO of the American Clean Power Association, called it 'punitive' and warned it would 'strand hundreds of billions of dollars in current investments, threaten energy security, and undermine growth in domestic manufacturing'. Analysts at the Rhodium Group estimate the new tax and loss of credits could increase wind and solar project costs by 10% to 20%, with the added burden likely to be passed on to consumers in the form of higher electricity bill's supporters argue the new provisions will boost domestic manufacturing and reduce reliance on Chinese supply chains. Still, clean energy advocates say the changes could push data centers and other energy-hungry industries to seek cheaper, dirtier power sources abroad, undermining both climate goals and U.S. competitiveness. As the Senate races through a marathon 'vote-a-rama' on amendments, the future of America's clean energy transition—and the wallets of millions of consumers—hangs in the balance.
Yahoo
23-06-2025
- Sport
- Yahoo
Mexico wins CONCACAF Gold Cup group after 0-0 draw against Costa Rica
Mexico head coach Javier Aguirre, right, and Costa Rica Miguel Herrera embrace before a CONCACAF Gold Cup soccer match Sunday, June 22, 2025, in Las Vegas. (AP Photo/John Locher) A Mexico fan holds up a flag before a CONCACAF Gold Cup soccer match between Mexico and Costa Rica, Sunday, June 22, 2025, in Las Vegas. (AP Photo/John Locher) Mexico's Alexis Vega, left, kicks the ball away from Costa Rica's Orlando Galo during a CONCACAF Gold Cup soccer match Sunday, June 22, 2025, in Las Vegas. (AP Photo/John Locher) Costa Rica goalkeeper Keylor Navas grabs the ball out of the air against Mexico during a CONCACAF Gold Cup soccer match Sunday, June 22, 2025, in Las Vegas. (AP Photo/John Locher) Mexico head coach Javier Aguirre, right, and Costa Rica Miguel Herrera embrace before a CONCACAF Gold Cup soccer match Sunday, June 22, 2025, in Las Vegas. (AP Photo/John Locher) A Mexico fan holds up a flag before a CONCACAF Gold Cup soccer match between Mexico and Costa Rica, Sunday, June 22, 2025, in Las Vegas. (AP Photo/John Locher) Mexico's Alexis Vega, left, kicks the ball away from Costa Rica's Orlando Galo during a CONCACAF Gold Cup soccer match Sunday, June 22, 2025, in Las Vegas. (AP Photo/John Locher) Costa Rica goalkeeper Keylor Navas grabs the ball out of the air against Mexico during a CONCACAF Gold Cup soccer match Sunday, June 22, 2025, in Las Vegas. (AP Photo/John Locher) LAS VEGAS (AP) — Mexico tied Costa Rica 0-0 on Sunday night to win Group A of the CONCACAF Gold Cup and will play Saudi Arabia in the quarterfinals. Mexico's Santiago Giménez appeared to score on a bicycle kick in the fourth minute of second-half stoppage time but the goal was disallowed by Guatemalan referee Mario Escobar following a video review. Giménez appeared to be offside when Carlos Rodríguez lofted the ball into the penalty area following a free kick. Orlando Galo's headed clearance attempt went in front of the goal to Giménez. Advertisement Mexico, unbeaten in 10 Gold Cup matches against Costa Rica, finished even with the Ticos at seven points but won the group on goal difference. El Tri, which defeated the Dominican Republic and Suriname in their first two matches, will play Saudi Arabia next weekend while the Costa Ricans will face the United States. Costa Rica will be missing four regular starters. Forward Manfred Ugalde, who has three goals in the tournament, and midfielder Carlos Mora are suspended for yellow-card accumulation. Defender Ariel Lassiter has a fractured left hand and forward Warren Madrigal a broken left leg. ___ AP soccer:
Newsweek
18-06-2025
- Climate
- Newsweek
Lake Mead's Water Projected to Hit Lowest Point on Record
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Lake Mead's water levels are projected to be the lowest in recorded history by 2027, according to the U.S. Bureau of Reclamation. The lake, which was first filled in 1930, is already only 31 percent full after dropping to a low of 1,041.71 feet of water above sea level in July 2022. Its levels have risen since that low in 2022, but are expected to fall again to 1,041.06 feet as of May 2027. Why It Matters Lake Mead is the nation's largest reservoir and is part of the Colorado River Basin network which supplies water to seven U.S. states, 30 tribal nations, and also parts of Mexico. Approximately 25 million people, including residents of the major cities of Las Vegas, Phoenix, and Los Angeles, rely on water from Lake Mead. Millions also rely on the lake's ability to create electricity across Arizona, Colorado, and Nevada. What To Know Lake Mead's water levels are determined by a number of factors including natural conditions and demand. A major reason is climate change, as unpredictable weather patterns, hotter summers which not only dry out the lake but also increase demand for water, and more arid winters are leaving the basin empty. Now, despite a snowy past winter in Colorado, the basin is still struggling. Kyle Roerink, executive director of the Great Basin Water Network, told 8NewsNow that the levels represent "the uncertainty we face year after year." A boat that was once submerged sits on cracked earth hundreds of feet from the shoreline of Lake Mead on May 10, 2022, near Boulder City, Nevada. A boat that was once submerged sits on cracked earth hundreds of feet from the shoreline of Lake Mead on May 10, 2022, near Boulder City, Nevada. John Locher, File/AP Photo Further Water Restrictions? The lessening levels mean that people in the states reliant on Lake Mead, predominantly, California, Nevada, and Arizona, may be put under water restrictions. These states are already under Tier 1 water restrictions, meaning people cannot use free-flowing hoses, must reduce hours for landscaping, and must have conservation plans in place. If the water levels continue to drop, they will be placed under Tier 2 restrictions, which could see the water allocations for each state being limited. Millions of people rely on this basin for water and electricity as President Donald Trump's administration has withdrawn the U.S. from the Paris Climate Agreement again and has opened up the country for more fossil fuel drilling. Trump has signed several executive orders to revive fossil fuel production by declaring an "energy emergency," and the Environmental Protection Agency led by Lee Zeldin has worked to remove clean air standards. The Department of Government Efficiency also laid off several Lake Mead workers during its mass-firing drive. However, many of these employees have now been reinstated. Jennifer Shoulders, center, protesting the layoffs of National Park Service employees, at the Lake Mead National Recreation Area Visitor Center on March 1, 2025, near Boulder City, Nevada. Jennifer Shoulders, center, protesting the layoffs of National Park Service employees, at the Lake Mead National Recreation Area Visitor Center on March 1, 2025, near Boulder City, Nevada. Steve Marcus/Las Vegas Sun via AP What People Are Saying Kyle Roerink, executive director of the Great Basin Water Network, told media: "This report underscores the arid shifts we are seeing across the West and the uncertainty we face year after year. Much of the Upper Colorado River region had normal to above-average snowpacks this winter. But that is not translating to water for Lake Mead. Even in good years, we are seeing bad results." What Happens Next Lake workers are working to expand surrounding recreation areas, as lowering water levels has resulted in a change in where people can enjoy time at the lake. As temperatures rise in the region and little evident action to combat climate change, residents who rely on water from Lake Mead can expect to endure more restrictions on their water access.
Yahoo
13-06-2025
- Business
- Yahoo
World Cup skiers promised at least 10% rise in race prize money next season
FILE - United States' Mikaela Shiffrin reacts on the podium after winning the women's slalom at the World Cup Finals, Thursday, March 27, 2025, in Sun Valley, Idaho. (AP Photo/John Locher, File) GENEVA (AP) — Prize money across all World Cup disciplines will increase by at least 10% next season, the International Ski and Snowboard Federation (FIS) said Friday. Superstars in Alpine skiing earn the most — Mikaela Shiffrin and Marco Odermatt each made a record $1 million in race prize money in the 2023 season — but top racers in ski cross and snowboard disciplines typically earn less than 100,000 Swiss francs ($123,000) for the winter. Advertisement 'It is clear that we still have a lot to do when it comes to rewarding our athletes as they deserve,' FIS President Johan Eliasch said in a statement. FIS said it will guarantee a 10% increase and hopes that race organizers add an extra 10% 'on a voluntary basis.' 'This is an important step, but only another one in a long way ahead,' Eliasch said. In ski jumping, Daniel Tschofenig topped the men's prize money list last season with 372,550 Swiss francs ($459,000), and women's leader Nika Prevc earned almost 130,000 Swiss francs ($160,000). The most lucrative venue is storied Austrian resort Kitzbuehel which had a total prize fund last season of 1 million euros ($1.15 million) across a three-race weekend for men. ___ AP skiing:
Yahoo
21-05-2025
- Sport
- Yahoo
Notre Dame, Wisconsin will have a Sunday kickoff for 2026 Lambeau Field game
Green Bay Packers fans embrace at Lambeau Field before the first round of the NFL football draft, Thursday, April 24, 2025, in Green Bay, Wis. (AP Photo/John Locher) GREEN BAY, Wis. (AP) — Notre Dame's 2026 football game with Wisconsin at Lambeau Field will now have a Sunday kickoff. The two schools announced Wednesday that they'll be facing off at the home of the NFL's Green Bay Packers on Sept. 6, 2026, in a game that will be televised by NBC. The 2026 game previously was set for a Saturday kickoff on Sept. 5. Advertisement This is part of a two-game, neutral-site series. Notre Dame defeated Wisconsin 41-13 at Chicago's Soldier Field in 2021. The Lambeau Field matchup initially was supposed to take place in 2020, but that game got scrapped due to the pandemic and was rescheduled for 2026. This will mark the first time Wisconsin has played at Lambeau Field since beating LSU 16-14 in 2016. The only other college football game ever to take place at Lambeau Field was a matchup between St. Norbert and Fordham in 1983. ___ Get poll alerts and updates on the AP Top 25 throughout the season. Sign up here. AP college football: and
