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Geothermal Energy Market worth $13.56 billion by 2030
DELRAY BEACH, Fla., July 24, 2025 /PRNewswire/ -- The global Geothermal Energy Market is anticipated to grow from estimated USD 9.81 billion in 2024 to USD 13.56 billion by 2030, at a CAGR of 5.3% during the forecast period. Increasing use of geothermal energy for power generation, favourable government policy, and increasing demand for ground source geothermal heat pumps due to the increase in heating costs are the major driving factors for the Geothermal Energy Market. Browse in-depth TOC on "Geothermal Energy Market" 200 - Tables 60 - Figures 289 – Pages Download PDF Brochure: Binary cycle plant estimated to account for largest share of geothermal market during forecast period By technology, the Geothermal Energy Market has been segmented into binary cycle plants, flash steam plants, dry steam plants, ground source heat pumps, direct systems, and others. The binary cycle segment is dominating the overall market due to its increasing adoption of renewable energy for power generation in medium-temperature reservoirs. Binary plants are typically used for geothermal resources with temperatures between 100°C and 170°C. They are currently the most popular type of geothermal power plant. Their popularity comes from their ability to work well with lower-temperature water sources, making them ideal for binary cycle installations. Moreover, binary plants release almost no emissions besides steam. Low temperature segment to account for largest market share during forecast period Based on temperature, the Geothermal Energy Market has been split into low, medium, and high temperature. The low temperature segment is estimated to account for the largest share of the overall Geothermal Energy Market in 2024. It is used in electricity generation or for combined heat and power. The development of binary cycle technology has enabled the exploitation of low-temperature geothermal reservoirs, opening up many new regions for geothermal development. This is likely to boost the growth of the market. Asia Pacific to be largest Geothermal Energy Market during forecast period Asia Pacific is the largest Geothermal Energy Market in 2024. The market in the region is also projected to register the highest growth during the forecast period. In Asia Pacific, various countries are currently focused on geothermal energy to meet the increasing demand for electricity and to achieve the goal of net-zero CO2 emissions. Hence, there are huge investments from both governments and private companies. Geothermal resources are abundant in Asia Pacific countries such as Indonesia and New Zealand. These resources can be utilized as climate-friendly energy sources in all weather. Currently, China is the largest user of geothermal heat pumps. The country uses geothermal energy mainly for district heating and space heating applications. Indonesia has commissioned many geothermal power plants in the past decade, which has enabled the country to meet its energy needs. Companies such as Ormat (US), Mitsubishi Heavy Industries, Ltd. (Japan), and SLB (US) are leading the Geothermal Energy Market. Request Sample Pages: Ormat Ormat is one of the leading vertically integrated companies primarily engaged in the geothermal energy business. The company conducts its operations through three business segments, namely, Electricity, Product, and Energy Storage. Its Electricity business segment develops, builds, owns, and operates geothermal, solar PV, and recovered energy-based power plants in the US and geothermal power plants in other countries. The Electricity segment provides geothermal and recovered energy-based electricity generation and remote power units. The company also operates as an EPC contractor for geothermal and recovered energy power plants on a turnkey basis. Ormat operates in over 100 countries across Europe, North America, South America, Asia, and the Middle East & Africa. Mitsubishi Heavy Industries Mitsubishi Heavy Industries is a Japanese multinational corporation specializing in shipbuilding, transportation systems, commercial aircraft, and power systems. The company offered its products and services to various end-use industries, such as energy, marine, automotive, defense, transportation, environment, and aerospace. It operates its business through four segments, namely, Energy Systems, Aircraft Defence & Space, Logistics, Thermal & Drive Systems, and Plants & Infrastructure Management. Through its Energy Systems business sector, the company provides geothermal energy systems and services. It also offers thermal power generation systems (gas turbine combined cycle and steam power), nuclear power generation systems (light-water reactors, nuclear fuel cycle & advanced solutions), wind power generators, engines for aircraft, compressors, air quality control systems, marine machinery, and renewable energy solutions. The company offers geothermal energy systems through the Mitsubishi Power and Turboden subsidiaries. For more information, Inquire Now! Related Reports: Wave Energy Converter Market Hydrogen Energy Storage Market Get access to the latest updates on Geothermal Energy Companies and Geothermal Energy Industry About MarketsandMarkets™: MarketsandMarkets™ has been recognized as one of America's Best Management Consulting Firms by Forbes, as per their recent report. MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. With the widest lens on emerging technologies, we are proficient in co-creating supernormal growth for clients across the globe. Today, 80% of Fortune 2000 companies rely on MarketsandMarkets, and 90 of the top 100 companies in each sector trust us to accelerate their revenue growth. With a global clientele of over 13,000 organizations, we help businesses thrive in a disruptive ecosystem. The B2B economy is witnessing the emergence of $25 trillion in new revenue streams that are replacing existing ones within this decade. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we collaborate with several Forbes Global 2000 B2B companies to keep them future-ready. Our insights and strategies are powered by industry experts, cutting-edge AI, and our Market Intelligence Cloud, KnowledgeStore™, which integrates research and provides ecosystem-wide visibility into revenue shifts. To find out more, visit or follow us on Twitter, LinkedIn and Facebook. Contact:Mr. Rohan SalgarkarMarketsandMarkets™ INC.1615 South Congress 103, Delray Beach, FL 33445USA: +1-888-600-6441Email: sales@ Our Website: Logo: View original content: SOURCE MarketsandMarkets Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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Market to Reach $14.6 Billion by 2030 - Grid Expansion and Smart Utility Rollouts Spur Procurement of Advanced and Connected Equipment Fleets
The utility equipment market is poised for growth driven by infrastructure expansion, tech innovations, and climate resilience needs. Key opportunities include equipment modernization for smart grids and renewable energy, tailored solutions for diverse regional and sector demands, and a shift to sustainable, automated technologies. Utility Equipment Market Dublin, July 24, 2025 (GLOBE NEWSWIRE) -- The "Utility Equipment - Global Strategic Business Report" report has been added to global market for Utility Equipment was estimated at US$12.0 Billion in 2024 and is projected to reach US$14.6 Billion by 2030, growing at a CAGR of 3.3% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions. The report includes the most recent global tariff developments and how they impact the Utility Equipment market. The growth in the utility equipment market is being driven by a combination of infrastructure expansion, regulatory compliance, technological advancement, and a growing emphasis on resilience and sustainability. One of the most significant drivers is the aging of utility infrastructure in developed countries, which necessitates large-scale upgrades and replacements using specialized equipment to ensure safe and efficient operations. Simultaneously, emerging economies are undertaking new infrastructure projects to expand access to electricity, clean water, and telecommunications, thereby increasing demand for utility machinery. The increasing frequency and severity of climate-related disasters are prompting governments and private utilities to invest in more robust equipment fleets capable of performing in extreme conditions and restoring services rapidly. Rising environmental standards and sustainability goals are pushing companies to adopt greener, electric-powered utility equipment that aligns with carbon reduction targets. Additionally, technological integration into utility operations is increasing demand for advanced, multifunctional equipment that can connect to digital platforms and streamline workflows. Workforce challenges, including skilled labor shortages, are also accelerating automation and remote operation capabilities within the sector. Government stimulus packages, infrastructure funding initiatives, and public-private partnerships are further fueling investment in utility-related capital equipment. Together, these drivers are creating a favorable environment for market expansion, where innovation, compliance, and operational efficiency are all converging to shape the future of utility equipment worldwide. How Are Technological Advancements Enhancing the Capabilities of Utility Equipment?Technological innovation is rapidly reshaping the utility equipment sector, making machines smarter, more efficient, and better suited to the evolving demands of modern utility operations. Advancements in hydraulics, telematics, and automation are leading to equipment that can perform tasks with greater precision and less manual effort, reducing wear on components and minimizing operator fatigue. GPS and GIS integration in utility vehicles now enables crews to pinpoint asset locations, optimize routing, and track progress in real time, improving productivity and response times. Additionally, machine learning and predictive analytics are being used to monitor equipment health, anticipate failures, and schedule proactive maintenance, reducing costly downtime. Hybrid and electric powertrains are emerging as sustainable alternatives to diesel engines, especially in urban areas with strict emissions standards, allowing utility companies to reduce their carbon footprint without compromising performance. Ergonomic enhancements and safety features, such as automated stabilization systems, overload protection, and proximity alerts, are further improving workplace safety and operational confidence. Modular designs are also becoming more prevalent, allowing utility companies to adapt equipment to different tasks or environments with minimal reconfiguration time. These innovations are not only boosting efficiency and sustainability but also helping utility providers meet growing regulatory demands and public expectations for resilient, reliable service. As technology continues to evolve, utility equipment is becoming more intelligent, versatile, and integral to the delivery of critical infrastructure Regional and Sector-Specific Factors Are Influencing Demand for Utility Equipment?Demand for utility equipment varies significantly across regions and industry sectors, influenced by infrastructure maturity, climate conditions, economic development, and policy priorities. In North America, ongoing investments in grid modernization, underground utility expansion, and storm recovery capabilities are driving demand for a broad range of equipment, from bucket trucks and pole-setting rigs to trenchless digging machines. In Europe, environmental regulations and urban density challenges are prompting utility operators to adopt compact, low-emission equipment for use in tight, urban construction zones. In Asia-Pacific, rapid urbanization and industrial growth are fueling infrastructure expansion, particularly in countries like India, China, and Southeast Asian nations where rural electrification and water access programs are heavily reliant on scalable and cost-effective utility machinery. Africa and Latin America are seeing growing demand tied to development aid and public investment in basic services, where utility equipment supports first-time infrastructure installation and community electrification efforts. Sector-wise, the electric power industry remains the largest consumer of utility equipment due to ongoing transmission and distribution upgrades, while water and wastewater utilities are increasing their reliance on vacuum excavation and inspection technologies to manage aging pipelines. The rise of renewable energy, particularly solar and wind, is also influencing demand, as utility crews require specialized equipment to install, connect, and maintain distributed energy assets. These diverse regional and sector-specific needs are shaping a highly dynamic market, with manufacturers offering tailored solutions to meet local challenges and regulatory Features: Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2024 to 2030. In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa. Company Profiles: Coverage of players such as Altec Inc., Ammann Group, Caterpillar Inc., CNH Industrial, Doosan Corporation and more. Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments. Key Insights: Market Growth: Understand the significant growth trajectory of the Garbage Trucks segment, which is expected to reach US$6.9 Billion by 2030 with a CAGR of a 3.0%. The Street Sweeper segment is also set to grow at 3.5% CAGR over the analysis period. Regional Analysis: Gain insights into the U.S. market, estimated at $3.3 Billion in 2024, and China, forecasted to grow at an impressive 6.1% CAGR to reach $2.9 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific. Scope of Study: Product (Garbage Trucks, Street Sweeper, Static Compactors, Winter Maintenance Equipment, Sewer & Drainage Equipment) Type (Electric Utility Equipment, Conventional Utility Equipment) End-Use (Municipal End-Use, Industrial End-Use, Airport End-Use, Other End-Uses) Key Attributes: Report Attribute Details No. of Pages 371 Forecast Period 2024 - 2030 Estimated Market Value in 2024 12 Billion Forecasted Market Value by 2030 14.6 Billion Compound Annual Growth Rate 3.3% Regions Covered Global Key Topics Covered: MARKET OVERVIEW Influencer Market Insights World Market Trajectories Tariff Impact on Global Supply Chain Patterns Utility Equipment - Global Key Competitors Percentage Market Share in 2025 (E) Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2025 (E) MARKET TRENDS & DRIVERS Rising Infrastructure Modernization Efforts Throw the Spotlight on Next-Gen Utility Equipment Demand Grid Expansion and Smart Utility Rollouts Spur Procurement of Advanced and Connected Equipment Fleets Here`s How Electrification of Utility Fleets Is Driving Innovation in Battery-Powered Equipment Platforms Aging Utility Assets and Workforce Gaps Strengthen the Business Case for Automated and Ergonomic Machinery Growing Frequency of Natural Disasters Accelerates Demand for Rapid Deployment and Emergency Response Equipment Telecom Network Upgrades and 5G Expansion Expand the Addressable Market for Compact Utility Construction Equipment Here`s the Story: How Urbanization and Undergrounding Projects Are Boosting Demand for Trenchers and Vacuum Excavators Technological Advancements in Telematics and Fleet Management Tools Drive Adoption of Smart Utility Equipment Rising Adoption of Hybrid and Electric Aerial Devices Reflects Sustainability Goals Across Utility Operators Fleet Standardization and Multi-Use Equipment Platforms Generate Cost Efficiencies and Broaden Appeal Increased Focus on Worker Safety and Compliance Propels Innovation in Stabilization and Lifting Technologies Rural Electrification Projects in Emerging Economies Sustain Long-Term Demand for Off-Road and Trailer-Mounted Units FOCUS ON SELECT PLAYERS |Some of the 32 companies featured in this Utility Equipment market report Altec Inc. Ammann Group Caterpillar Inc. CNH Industrial Doosan Corporation Furukawa Co., Ltd. Hitachi Construction Machinery Hyundai Construction Equipment IHI Corporation JCB Kobelco Construction Machinery Komatsu Ltd. Liebherr Group Manitowoc Company, Inc. Mitsubishi Heavy Industries SANY Group Terex Corporation Volvo Construction Equipment Wacker Neuson SE Zoomlion Heavy Industry For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Attachment Utility Equipment Market CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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INVL Renewable Energy Fund I company REFI Sun aims to raise up to EUR 15 million in public bond offering
The INVL Renewable Energy Fund I managed by INVL Asset Management, the leading alternative asset manager in the Baltics, is seeking to raise up to EUR 15 million through an offering of bonds issued by REFI Sun, a company the fund owns. The bonds will be offered publicly to retail and institutional investors in the Baltic countries from 28 July to 15 August. The bonds have a maturity of 2.5 years. The fixed interest rate on the debt securities will be set in the range of 7.5% to 8.5% and announced at completion of the offering. Interest will be paid to investors quarterly. The INVL Renewable Energy Fund I will provide guarantees to all holders of the REFI Sun bonds. 'Construction of the fund's renewable energy projects in Romania and Poland is gaining momentum, so there is also a growing need for financing, which in part we aim to meet by issuing new bonds. Most of the money raised from investors will be used to refinance a loan previously obtained by one of the fund's companies, the rest will go to the fund's solar power plant construction projects,' says Liudas Liutkevičius, Managing Partner of the INVL Renewable Energy Fund I. REFI Sun seeks to raise up to EUR 15 million in a public offer in Lithuania, Latvia, and Estonia under a base prospectus for EUR 25 million bond programme approved by the Bank of Lithuania. The minimum investment amount is EUR 1,000. The lead arranger of the bond program is Artea Bank. Evernord will also participate in the placement in Lithuania, while LHV Pank and Signet Bank acting as distribution partners in Estonia and Latvia. The certified advisor to the issuer is the Sorainen law firm, while the bondholders' trustee is the company Audifina. It is planned that the debt securities will be listed on the First North alternative securities market operated by Nasdaq Vilnius within three months after the issue date. More information about the bond issue and the offering process is available on the website of the INVL Renewable Energy Fund I. An online presentation and question-and-answer session for investors (in English) will be held on 31 July at 10:00. The link to join the session is here. An online presentation and Q&A session for investors in the Lithuanian language will be held on the same day at 14:00; the link to join that session is here. In February 2025, the INVL Renewable Energy Fund I's company REFI Energy successfully completed an EUR 8 million public offering of bonds with an annual interest rate of 8%. Demand for the bonds exceeded the issue size 1.7 times, demonstrating strong investor confidence in the Fund's management team and strategy. The INVL Renewable Energy Fund I is focusing on the Polish and Romanian markets, where the fund's managers see big growth potential. Total capacity of the fund's portfolio of projects in development in these markets is 389 MW. In Romania, the fund is investing in projects for 8 solar plants with a combined capacity of 356 MW. In Poland, it is developing solar park projects with over 32 MW in capacity. Investments in Romania and Poland are expected to exceed EUR 250 million. The fund has invested over EUR 90 million in acquisition and construction of the projects as of June 2025. Construction of all the solar parks should be completed by the end of 2027. To date the INVL Renewable Energy Fund I has raised EUR 73.9 million from investors through investment units and bonds. About the INVL Renewable Energy Fund I The INVL Renewable Energy Fund I was established on 20 July 2021 by INVL Asset Management, the leading alternative asset manager in the Baltic States, as a sub-fund for informed investors. It invests in early- and mid-stage renewable energy projects (solar), including the construction of new power plants, the development and/or acquisition of the infrastructure necessary for the operation of power plants, and effective management of existing power plants in the European Union and member states of the European Economic Area. INVL Asset Management is part of Invalda INVL, the leading Baltic asset management group. Further information:Liudas LiutkevičiusManaging Partner of the INVL Renewable Energy Fund
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2 days ago
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INVL Renewable Energy Fund I company REFI Sun aims to raise up to EUR 15 million in public bond offering
The INVL Renewable Energy Fund I managed by INVL Asset Management, the leading alternative asset manager in the Baltics, is seeking to raise up to EUR 15 million through an offering of bonds issued by REFI Sun, a company the fund owns. The bonds will be offered publicly to retail and institutional investors in the Baltic countries from 28 July to 15 August. The bonds have a maturity of 2.5 years. The fixed interest rate on the debt securities will be set in the range of 7.5% to 8.5% and announced at completion of the offering. Interest will be paid to investors quarterly. The INVL Renewable Energy Fund I will provide guarantees to all holders of the REFI Sun bonds. 'Construction of the fund's renewable energy projects in Romania and Poland is gaining momentum, so there is also a growing need for financing, which in part we aim to meet by issuing new bonds. Most of the money raised from investors will be used to refinance a loan previously obtained by one of the fund's companies, the rest will go to the fund's solar power plant construction projects,' says Liudas Liutkevičius, Managing Partner of the INVL Renewable Energy Fund I. REFI Sun seeks to raise up to EUR 15 million in a public offer in Lithuania, Latvia, and Estonia under a base prospectus for EUR 25 million bond programme approved by the Bank of Lithuania. The minimum investment amount is EUR 1,000. The lead arranger of the bond program is Artea Bank. Evernord will also participate in the placement in Lithuania, while LHV Pank and Signet Bank acting as distribution partners in Estonia and Latvia. The certified advisor to the issuer is the Sorainen law firm, while the bondholders' trustee is the company Audifina. It is planned that the debt securities will be listed on the First North alternative securities market operated by Nasdaq Vilnius within three months after the issue date. More information about the bond issue and the offering process is available on the website of the INVL Renewable Energy Fund I. An online presentation and question-and-answer session for investors (in English) will be held on 31 July at 10:00. The link to join the session is here. An online presentation and Q&A session for investors in the Lithuanian language will be held on the same day at 14:00; the link to join that session is here. In February 2025, the INVL Renewable Energy Fund I's company REFI Energy successfully completed an EUR 8 million public offering of bonds with an annual interest rate of 8%. Demand for the bonds exceeded the issue size 1.7 times, demonstrating strong investor confidence in the Fund's management team and strategy. The INVL Renewable Energy Fund I is focusing on the Polish and Romanian markets, where the fund's managers see big growth potential. Total capacity of the fund's portfolio of projects in development in these markets is 389 MW. In Romania, the fund is investing in projects for 8 solar plants with a combined capacity of 356 MW. In Poland, it is developing solar park projects with over 32 MW in capacity. Investments in Romania and Poland are expected to exceed EUR 250 million. The fund has invested over EUR 90 million in acquisition and construction of the projects as of June 2025. Construction of all the solar parks should be completed by the end of 2027. To date the INVL Renewable Energy Fund I has raised EUR 73.9 million from investors through investment units and bonds. About the INVL Renewable Energy Fund I The INVL Renewable Energy Fund I was established on 20 July 2021 by INVL Asset Management, the leading alternative asset manager in the Baltic States, as a sub-fund for informed investors. It invests in early- and mid-stage renewable energy projects (solar), including the construction of new power plants, the development and/or acquisition of the infrastructure necessary for the operation of power plants, and effective management of existing power plants in the European Union and member states of the European Economic Area. INVL Asset Management is part of Invalda INVL, the leading Baltic asset management group. Further information:Liudas LiutkevičiusManaging Partner of the INVL Renewable Energy Fund
E&E News
2 days ago
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Lobbyists spent millions to save green energy. Wins were few.
Renewable energy lobbyists dumped millions of dollars over the past few months in a frenzied push to save green energy priorities. In the end, they didn't get much bang for their buck. As Republicans ramped up their efforts to roll back tax credits, the top renewable energy advocacy organization in the country, the American Clean Power Association, spent a record $3.8 million lobbying federal officials for the second quarter that ended in June. That's more than six times as much that they spent a year ago in the same time period, new disclosures show. The GOP ended up slashing the incentives anyway in the One Big Beautiful Bill Act, the tax and spending budget reconciliation bill. Advertisement 'We all failed to appreciate just the intensity of the desire to undo any fraction of any figment of any remaining Biden policy,' Jason Grumet, the group's CEO, said of former President Joe Biden's green agenda on POLITICO's Energy podcast. 'The [Trump] administration really prioritized the narrative around ending the Biden program, above an assessment of what the benefits were.' ACP was far from the only group that significantly boosted its advocacy work in the period from April to June. Congressional lobbying disclosures due this week show that dozens of companies and associations in wind, solar, batteries, electric vehicles and related fields went all out in trying to persuade lawmakers not to quickly halt their tax subsidies. Other sizable increases came from the Solar Energy Industries Association, which more than doubled its spending to $950,000 for the quarter. The Zero Emission Transportation Association's spending was more than four times the level a year prior, at $130,000. While much of the spending by lobbyists was aimed at preserving green energy tax credits, advocates also spent money on other renewable energy priorities and legislation. The lobbyists were, for the most part, unsuccessful in pushing back at what President Donald Trump and many Republicans had long promised: to end the incentives from the Democrats' Inflation Reduction Act that the GOP has labeled the 'Green New Scam.' The new law sets a quick timetable to end incentives for wind and solar, as well as batteries, electric vehicles and vehicle charging infrastructure, while repealing other pro-clean-energy policies. 'Was it a failure? No, absolutely not.' Yet, as they reflect on the fight, some advocates say they are proud of their efforts. 'I've seen some armchair quarterbacks saying the industry failed, sure, but those people weren't involved in the actual work, don't know what they are talking about, or both,' said Colin Hayes, founding partner at Lot Sixteen, which has a number of clients in clean energy and batteries. 'Was it a failure? No, absolutely not. Every single Republican voted against the IRA in the first place, so anything north of complete repeal was a win.' Indeed, industry advocates did notch some accomplishments. The tax credits do not end immediately, and a last-minute push by some Senate Republicans gave developers one year to start their wind and solar projects and get the credits. And they defeated an earlier Senate proposal to impose a new excise tax on wind and solar projects based on the amount of equipment they use from China and other adversaries. Renewable energy lobbyists and their allies also softened supply chain mandates and preserved a practice allowing companies to transfer credits to third parties. The Kayenta Solar Plant in Arizona. |Not all industry fared the same. Individual solar manufacturing, nuclear, and biofuel companies saw more success after they sent their CEOs to the Capitol, said Jeff Navin, founder of the firm Boundary Stone, which represents solar manufacturers, battery companies and similar clients. But advocates representing solar and wind energy developers 'ran into headwinds of Donald Trump, who has strong opinions about wind in particular,' he said. 'They did change some minds of Republicans, not enough to overcome Trump's tweets and the political disaster of cutting Medicaid.' Ultimately, he said, 'I think it's easy to write the story that says they spent a lot of money and they lost,' Navin said. 'That's true and you don't want to lose. [But] it's not like they didn't get anything for it. We just have more work to do to build and broaden the coalition.' Conservatives celebrate Conservatives and fossil fuel advocates acknowledge they didn't get everything they wanted — but they did get one thing: 'One of the highest priorities was to get these things phased out before President Trump left office because in the past they've always sunset and then the political climate changed,' said American Energy Alliance President Tom Pyle. Renewable energy companies' strategies to save the credits largely focused on hiring Republican lobbyists, flooding congressional offices and trying to appeal to moderates with big investments in their districts. They emphasized forecasts of job losses if the credits were repealed; SEIA, for instance, repeatedly cited research it commissioned saying that repeal threatened 330,000 solar jobs. SEIA and other groups even passed out stickers with Trump's signature 'energy dominance' catchphrase on Capitol Hill. But observers noted it was too little, too late. 'Their entire strategy was to build relationships with the Democratic Party and green groups,' Pyle said of solar and wind lobbies. 'They ran into a brick wall in the name of President Donald Trump.' Even before the last election, groups like ACP have made a point of increasing their outreach to Republicans but their efforts have not softened the president's animosity to renewable energy. And many GOP solar and wind allies on the Hill seem to feel they can only do so much to buck Trump's agenda. In a recent interview with POLITICO's E&E News, SEIA CEO Abigail Ross Hopper highlighted the sector's accomplishments in the budget legislation. 'We have emerged from this legislative battle with the tax credits certainly curtailed, but not eliminated, and with some paths forward that are super important,' she said. 'I don't know that there's anything at the moment I can think of that we would have done differently.' Abigail Ross Hopper, CEO of the Solar Energy Industries Association, speaking last year in Washington during the group's 50th anniversary celebration. | Eric Kayne/AP Big spending elsewhere Grumet, the American Clean Power Association CEO, said he and others misjudged how far Republicans would go in rolling back the policies that had been enacted or expanded in the Inflation Reduction Act. 'I think we have become, as an industry, almost a political football in which both sides exaggerate either our glory or our dismay and use us as a talking point for their larger political ambitions. I think that the Congress misread the bipartisan support for clean energy,' Grumet said. A number of individual clean energy companies also boosted their advocacy work in the second quarter. Rooftop solar firm SunRun spent $320,000 in the quarter, up more than 500 percent from a year prior. Solar manufacturer First Solar's $520,000 in lobbying was more than double the same period in 2024. In wind, Vestas North America put $100,000 into lobbying, up from $30,000 a year before. Tesla doubled its expenditures to $320,000. Many of the companies hired new lobbying firms during the reconciliation fight, or retained their first firms. Advantage Capital, an investment firm in renewable energy, hired Barker Leavitt and Patel Partners in June, contributing to a 600 percent increase in its lobbying expenditures. T1 Energy, a solar and battery manufacturer, signed with Continental Strategy and Checkmate Government Relations in June and spent $260,000 in the quarter, after not having any lobbyists before November 2024. The clean energy industry similarly carried out an intense lobbying campaign in 2022 in the lead-up to the passage of the Inflation Reduction Act. But the sharp increase in lobbying expenditures in 2025 was unprecedented. ACP, for instance, had never exceeded $700,000 in one quarter since it launched in 2021. Its predecessor, the American Wind Energy Association, spent a record $1.8 million in the second quarter of 2009, at the peak of debate over climate change legislation. SEIA's previous quarterly record was $710,000, set in the first quarter of 2025. Reporter Nico Portuondo contributed. This story also appears in Climatewire.
