GOP is on verge of sweeping victory in bid to gut clean energy economy

Congressional Republicans are poised to reverse course on U.S. energy policy by wiping out hundreds of billions of dollars in subsidies and incentives for solar and wind projects as well as for consumers seeking to purchase everything from energy-saving appliances to electric cars.

The Senate’s latest draft of the tax bill released overnight Friday contains strict green energy cutbacks that disappointed lobbyists for solar, wind and battery companies, who hoped senators would temper some of the House’s most draconian cuts. It also imposes a new tax on existing wind and solar farms if they include materials from a foreign entity like China — a huge blow for the renewables industry, which still incorporates many materials from China across its supply chain.