Biden won’t like this one bit.
The Trump administration is rolling back tens of billions of dollars in federal green-energy financing approved during the Biden administration, canceling nearly $30 billion in loans and restructuring an additional $53 billion, according to the Department of Energy.
Officials say the move is aimed at protecting taxpayers and correcting what they describe as rushed spending decisions made during the final months of the previous administration.
The Department of Energy’s Office of Energy Dominance Financing (EDF) confirmed that the canceled funds were tied to Biden-era climate and renewable energy programs. The office said the loans underwent a full review to ensure they met fiscal responsibility standards.
Energy Secretary Chris Wright said the findings raised serious concerns.
“After a comprehensive review of the loan portfolio, we found that more taxpayer dollars were pushed out during the final months of the Biden administration than had been distributed over the previous fifteen years combined,” Wright said.
According to Wright, President Trump directed the department to realign energy spending toward affordability, reliability, and national security.
“President Trump made a commitment to protect taxpayer dollars while expanding America’s access to dependable and secure energy,” Wright said. “These actions reflect that promise.”
As part of the restructuring, the department has eliminated approximately $9.5 billion in financing for wind and solar projects. Those funds are now being redirected toward natural gas development and nuclear energy upgrades, which administration officials say will help lower energy costs and strengthen the nation’s power grid.
The changes are part of a broader effort by the Trump administration to reverse Biden-era climate policies. In October, the Department of Energy canceled nearly $8 billion in federal grants that had supported hundreds of clean-energy projects across 16 states.
At the time, officials said 223 projects were halted following individualized reviews to determine whether the spending served long-term taxpayer interests.
“Every dollar must deliver real value to the American people,” Wright said in a previous statement. “The Department of Energy will continue reviewing federal awards to ensure fiscal responsibility and energy security.”
Despite the cancellations, the EDF still retains more than $289 billion in loan authority, which the administration plans to use to support priorities such as nuclear reactor development, grid modernization, and domestic energy production.
Administration officials say the shift marks a clear departure from Biden’s climate-first agenda, replacing it with policies focused on affordability, reliability, and American energy independence.