Well, partner, Tesla's been ridin' high on a saddle made of government regulations and incentives, from a trusty Department of Energy loan back in '09 to them regulatory credits it's been tradin' with other auto cowboys. Fact is, a third of its $32 billion loot since 2012 comes from them credits. But now, the energy branch of Tesla's ranch, which has been pretty much the only thing goin' strong while demand for their electric wagons is slowin', is under siege.

Showdown in the Senate

Last week, the House Republicans cleared a mighty big hurdle by passin' a reconciliation bill that aims to take apart a heap of the Inflation Reduction Act. This here bill's got the power to yank tax credits for them home solar setups and clean energy ventures right out from under folks. Now it's moseying over to the Senate for another round.

If the Senate goes ahead and gives this bill the green light with them repeals still sittin' pretty, it'd spell serious trouble for Tesla's energy outfit, which wrangled in $2.7 billion last quarter—that's a 67% jump from last year.

Tesla's Plea to the Senate Posse

Even though CEO Elon Musk's lookin' to close the chapter on his government dealings, Tesla's taken to lobbyin' lawmakers over yonder on X, lookin' for a little mercy from them Senate Republicans.

"Rippin' out them energy tax credits without a proper plan would put America’s energy independence in peril and throw our power grid in disarray—we implore the Senate to craft legislation that smartly rides out 25D and 48e," Tesla hollered on X. "This'll ensure the quick roll-out of over 60 gigawatts of capacity per year to back up AI and boost local manufacturin'."

The Dusty Trail Ahead

Right now, homeowners are clear to claim 30% tax credits on fresh solar setups, while them clean energy developers can generally do the same. These tax goodies are set to fade away come the end of 2032, but them House Republicans want to pull the plug four years early and demand projects start construction pronto, within 60 days if the bill passes.

Techcrunch hoedown

Berkeley, CA | June 5

The Renewable Energy Roundup

Choppin' up them parts of the law could hamper the rollout of 60 gigawatts of power each year "to support AI and domestically bred manufacturin'," as Tesla put it. The Trump posse had its sights set on "energy dominance," so slowin' down the renewables wouldn’t help much with that thar goal.

Last year, 93% of all new energy kickstarts in the U.S. came from clean energy—mostly solar and them grid-sized storage contraptions. First quarter this year saw 7.4 gigawatts ushered in by renewables, makin' it the second best Q1 ever on record. While new natural gas turbines got folks twiddlin' their thumbs for ages, solar ranches usually go up by 18 months.

Solar Stocks Feelin' the Heat

Like many a residential solar outpost, Tesla's energy biz is mighty reliant on them tax incentives. With the Republicans itchin' to wipe out the Inflation Reduction Act, American solar stocks have taken a tumble. This year, Enphase dropped 45%, SunRun slumped by a quarter, and First Solar trailed off by 15%.

Tim De Chant’s got the keen eye of a senior climate reporter over at TechCrunch, lendin' his voice to all sorts of publications, includin' Wired magazine and the Chicago Tribune. He's a lecturer at MIT’s Science Writing Program and was named a Knight Science Journalism Fellow at MIT in 2018, where he studied climate tech and new business models for journalism. De Chant earned his PhD from UC Berkeley in environmental science, policy, and management, along with a BA in environmental studies, English, and biology from St. Olaf College.