President Trump signed the One Big Beautiful Bill into law on July 4. The new law significantly scales back and accelerates the termination of several clean energy tax credits established or extended by the 2022 Inflation Reduction Act (IRA). Notably, the law imposes strict timelines for solar facilities using the tech-neutral clean electricity tax credits (Sections 45Y and 48E), requiring them to be placed in service by 2027 unless construction began before July 4, 2026. These credits have been critical for nationwide solar and storage projects, including many in Tennessee.
In recent letters to Senators Blackburn and Hagerty, Chroma CEO Ed Rottmann expressed concern regarding changes to the clean energy tax credits. He explained that repealing or restricting the tax credits threatens the Volunteer State’s nearly 3,000 solar and storage jobs. Even more concerning, repeal of the credits jeopardizes more than $5.5 billion in investments and 5,481 clean energy jobs announced in Tennessee across the manufacturing and power generation sectors.
Now that the bill has passed, the focus shifts to how we move forward. At Chroma, we’re staying committed to the work and looking for opportunities to shape policy. Our team continues to deliver clean energy projects across Tennessee. We’re proud of our ongoing work at McGhee Tyson Air National Guard Base, the Sunsphere, and the Poplar Bend Affordable Housing Development in Nashville. These kinds of projects bring real value to communities and help meet rising energy demand.
Clean energy is still a wise investment. We’re focused on keeping projects moving, advocating for smart policy updates, and doing our part to build a stronger, more reliable energy future.
