It is unclear how much of Jared Kushner’s own personal fortune — if any — may be tied to the solar project. | Andrew Harnik/APDonald Trump and his allies have pledged to dismantle the Inflation Reduction Act if the former president wins back the White House.
Affinity also co-led a $200 million funding round in 2022 for Mosaic, which has issued more than $14 billion in loans to homeowners.. And while the presumptive Republican nominee has been less vocal about solar power specifically, he has pledged to halt all spending under the IRA, the 2022 climate law behind the country’s clean energy boom.
The industry is growing and profitable, he said. But he said he doesn’t expect Kushner — or Trump — to publicly praise clean energy as a viable path for business success. Kushner’s investment came as lawmakers were hammering out a final agreement on the Inflation Reduction Act. The final law, which President Joe Biden signed in August 2022, included what was then estimated at about $370 billion in clean energy tax credits and incentives, leading to a boom in solar and wind power projects. More recent estimates by the Joint Committee on Taxation say the tax credits could eventually amount to twice that amount.
Trump’s allies in the conservative movement, including former administration officials, see a second Trump term as an opportunity to expand fossil fuels., a blueprint for a second Trump administration that includes detailed plans to roll back the IRA. It also calls for eliminating renewable energy offices within the Department of Energy as well as other parts of the federal government that support the clean energy industry.
“It doesn’t feel like a whole lot of money to me, for him to be like, ‘Oh, gosh, I better be nice to solar now,’” Pyle said.with the Securities and Exchange Commission in March. In addition to Mosaic, the fund has invested in an Israeli car-leasing firm, a German company that manufactures gym equipment and the operator of the Burger King brand in Brazil.