On July 1, 2025, the US Senate passed the Big, Beautiful Act with a vote of 51:50.

In terms of PV policy, the Big, Beautiful Act is generally negative.

Its main negative content is:

a) The investment tax credit (formerly ITC policy) of up to 30% will be canceled ahead of schedule, of which residential PV projects will be completely canceled by the end of 2025 and utility projects will be completely canceled by the end of 2027;

b) The production tax credit (manufacturing subsidy under the inflation reduction bill) will apply until 2032, but will not apply to factories put into production after the end of 2027.