The Trump administration has canceled nearly $30 billion in clean energy loans approved during the Biden presidency and is reviewing an additional $53 billion as part of a sweeping audit of the Department of Energy’s loan portfolio, Energy Secretary Chris Wright announced Friday. The move represents one of the most significant reversals yet of Biden-era climate and energy policies.
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Wright said the review uncovered widespread problems within the department’s former Loan Programs Office, which has since been restructured into the Office of Energy Dominance Financing. According to Wright, a large share of the loans were rushed out in the final months of the Biden administration without sufficient oversight, resulting in what he described as irresponsible use of taxpayer dollars.
As part of the rollback, the Energy Department eliminated roughly $9.5 billion in loans for wind and solar projects. Those funds, officials said, will be redirected toward expanding natural gas infrastructure, developing small modular nuclear reactors, and upgrading existing power plants, moves the administration says will improve energy affordability and reduce reliance on foreign supply chains.
The cancellations follow months of internal restructuring at the Department of Energy and a broader effort by the Trump administration to unwind climate-related funding created under the Bipartisan Infrastructure Law and the Inflation Reduction Act. Officials said billions of dollars from those programs either went unused or were rescinded under new legislation aimed at redirecting funds toward fossil fuel and nuclear development.
Energy Department officials cited “systemic failures” in how grants and loans were approved under the previous administration, including conflicts of interest and insufficient due diligence. Since May 2025, the department has rescinded or suspended more than 340 clean energy awards worth over $11 billion, including major industrial demonstration projects and several high-profile hydrogen hub initiatives.
Wright said the policy shift reflects a broader realignment of national energy priorities under President Trump. With nearly $289 billion in loan authority now under the Energy Dominance Financing office, the administration plans to prioritize nuclear power, carbon capture, and modernized natural gas infrastructure, signaling what Wright called the end of “blank checks for politically connected green ventures.”[/read]