Companies announced $550 million in new clean energy manufacturing investments in November, even as cancellations continued to exceed new commitments, according to the latest monthly analysis by E2, a nonpartisan business group tracking clean energy development in the United States.
The November announcements included five new manufacturing projects expected to create at least 1,500 jobs once completed. However, these gains were offset by the cancellation of a $575 million battery storage project in Missouri, resulting in a net loss for the month. While November recorded the fewest private-sector clean energy project cancellations in more than a year, overall losses in 2025 continue to outpace new investment by a significant margin.
E2’s analysis shows that cancellations, closures, and project downsizing are outpacing new investments and job announcements by nearly three to one this year. Since January 2025, more than $32 billion in clean energy investments and nearly 40,000 jobs have been abandoned, compared with less than $12 billion in new investment and approximately 19,000 jobs announced.
One of the primary factors contributing to the slowdown in new project announcements is the nearly year-long freeze on approvals for major onshore wind and solar projects under the Trump administration, according to E2.
Despite the broader downturn, November’s new investments highlight pockets of continued momentum. Georgia emerged as the leading state for announced projects last month, with three new developments expected to create 700 jobs and attract $63 million in investment. The largest single announcement came from First Solar, which unveiled plans for a $330 million solar module manufacturing facility in South Carolina, leading the month in both job creation and investment value.
Michael Timberlake, E2’s Director of Research and Publications, warned that the imbalance between new investment and cancellations reflects ongoing uncertainty in the clean energy sector.
“Even as companies continue to announce new facilities and jobs, the scale of cancellations shows how fragile this moment is for America’s clean energy economy,” Timberlake said. “Without clear and durable policy signals, manufacturers will keep pulling back, and communities will continue to lose out on investments and jobs that are now going overseas instead of taking root here in the U.S.”
The analysis also highlights a geographic divide in project losses. Republican-held congressional districts have borne the largest share of cancellations so far in 2025, accounting for more than 50 percent of abandoned investments and jobs. These districts have lost $16.9 billion in planned investments and nearly 22,000 jobs, compared with $10.4 billion in investment losses and 13,000 jobs cancelled in Democratic-held districts.
E2’s report underscores the growing challenges facing the U.S. clean energy manufacturing sector as policy uncertainty and project delays continue to weigh on investor confidence.
