Op-Ed: Energy markets thrive on predictability, not political whiplash
By: Steven Lichtin, CEO Advantage Renewables
No one likes to have the rug pulled out from under them.
No matter who you are or what you do, certainty in today’s business world isn’t just nice to have, it’s a necessity.
On April 9, I joined countless members of the U.S. renewable energy sector in welcoming the letter authored by Senator Thom Tillis, along with Senators Murkowski, Curtis, and Moran, defending clean energy tax credits. Senator Tillis was right — a repeal of the current tax credit framework would create mass uncertainty, jeopardize capital allocation, upend long-term project planning, and slash job creation in the energy sector and across our entire economy.
Unfortunately, with the current reconciliation budget that has secured passage out of the House and will soon find its way to the Senate, Senator Tillis’ warnings may soon become reality.
Under the language passed by the U.S. House of Representatives, the Investment Tax Credits (ITC) under Sections 48E of the U.S. Tax Code, which my company and many others have relied on to justify investing billions of dollars for the security of American energy, will be completely dismantled. To be blunt, this is a complete repeal of the credits we have invested billions in, effective 60 days after enactment of the bill, and it places the future of a booming and innovative industry at risk. Consequently, it also risks America’s position as a global energy leader. Keeping our position as the most free and innovative country in the world demands an all-of-the-above energy policy, where renewables play a significant role. Taking this asset class out of the mix weakens our national security and will likely increase everyone's electricity bills.
Nationally, recent analysis released by the Solar Energy Industries Association (SEIA) warns that, if enacted, the cuts could lead to the loss of up to $220 billion in investments and 145,000 gigawatt-hours of solar generation by 2030. My company, Advantage Renewables, has already made significant investments based upon these tax credits to develop over 1.5 gigawatts of utility-scale solar and energy storage, amounting to over $2.5 billion in capital investment across the country.
More locally, in 2025, it was reported that businesses utilizing the ITC helped drive $20.44 billion in investments and created 17,148 new, clean energy jobs in North Carolina. As someone born and raised in this state, I’ve seen firsthand what we can accomplish. It is no surprise to me that the Tarheel State has become a clean energy powerhouse within the U.S. North Carolina consistently ranks among the top states for business, which is a testament to the pro-growth policies and incentives that continue to attract investment and drive innovation in our state.
But all that — those investments, those jobs, that momentum — is now at risk of being wiped out.
Regardless of where you stand on renewables, the situation is clear; this is not about ideology, it’s about business. A thriving industry that has invested heavily into American-made energy and created countless, high-paying American jobs is on the verge of being upended.
Senator Tillis and his colleagues know what is at stake. For that, I sincerely thank them.
As the Memorial Day recess comes to a close and Senators make their way back to the Hill, I have an honest request for Senator Tillis: stay the course. For the sake of our industry, for my team members who are your constituents, and for the high-paying jobs and billions of dollars of capital investment at stake — not just in North Carolina, but across the entire country — please don’t pull the rug out from under a thriving industry. I urge you to continue advocating for and defending an all-of-the-above energy policy that strengthens domestic energy production, bolsters security and grid resilience, and supports job creation.
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