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That finding alone set off alarm bells inside the Trump White House.
The Department of Energy has since restructured Biden’s Loan Programs Office into a new entity called the Office of Energy Dominance Financing, or EDF. Officials say the change reflects a clear break from what they describe as ideologically motivated “Green New Scam loans” that were approved without proper scrutiny.
As part of the review, the Energy Department confirmed that approximately $9.5 billion in loans tied to wind and solar projects were terminated outright. Those funds, according to Wright, will be redirected toward projects that strengthen domestic energy production, including natural gas expansion, small modular nuclear reactors, and upgrades to aging power plants.
Wright said the goal is simple. Make American energy cheaper, more reliable, and less dependent on foreign supply chains.
“President Trump promised to protect taxpayer dollars and expand America’s supply of affordable, reliable, and secure energy,” Wright said. “Today’s cancellations deliver on that commitment.”
The cancellations are part of a broader effort by the Trump administration to dismantle what officials call green slush funds created under Biden’s Bipartisan Infrastructure Law and the Inflation Reduction Act.
According to the Department of Energy, more than $25 billion in energy related funding from the infrastructure law and $4.3 billion from the IRA were left unspent when Biden left office. Another $11 billion in IRA climate subsidies was later rescinded under the One Big Beautiful Bill Act, legislation signed by President Trump to reclaim unused funds and redirect them toward fossil fuel and nuclear development.
A senior Energy Department official said the internal review exposed deep problems with how grants and loans were approved during Biden’s final year in office.
“Many of these programs were riddled with conflicts of interest and lacked due diligence,” the official said. “We had companies receiving billions in federal financing that were weeks away from insolvency.”
The scope of the rollback is massive.
Since May 2025, the Department of Energy has rescinded or suspended more than 340 clean energy awards valued at over $11 billion. Those cuts include several high profile Hydrogen Hub projects in states like California, Oregon, and Minnesota that were heavily promoted by the Biden administration.
Overall, nearly 17 percent of all energy funding awarded under the Bipartisan Infrastructure Law and 7 percent of Inflation Reduction Act awards have now been canceled.
One of the hardest hit initiatives was the Industrial Demonstration Program, a Biden era effort designed to subsidize green manufacturing. Of the 36 projects approved under the program, 18 were canceled outright, wiping out nearly $3 billion in commitments.
Wright said those programs failed to show meaningful returns.
“We cannot keep throwing taxpayer money at corporate handouts that don’t deliver energy security or economic value,” he said.
Despite criticism from environmental activists and Democrats, administration officials argue the shift reflects a necessary realignment of national priorities.
Under President Trump, the Energy Department’s EDF office now controls $289 billion in loan authority. That funding will prioritize nuclear power, carbon capture technology, and modernized natural gas infrastructure rather than politically favored green ventures.
In October, the department had already canceled another $8 billion in green grants, halting 223 projects across 16 states after what Wright described as a thorough individualized review. Those funds are now being redirected toward rural energy development, critical mineral extraction, and coal plant modernization.
“Rest assured, the Energy Department will continue reviewing awards to ensure every dollar works for the American people,” Wright said. “The era of blank checks for politically connected green ventures is over.”
For supporters of American energy independence, the message is clear. Under President Trump, the green gravy train has hit a dead end.
