The president is set to release his budget next week that will increase the federal solar energy incentives, but it won’t include any major changes to the current subsidy structure.
Instead, the president is expected to propose a proposal that would increase the number of solar projects on the federal grid, which currently only covers 20% of the nation’s solar power.
Trump wants to bring the subsidy back to a level of at least 30% for solar projects in the next two years, and to increase the amount of money that solar developers can earn from federal incentives.
“We want to bring it back to the levels of 30%, and it will have to be the largest subsidy we’ve had in the history of the U.S. government,” Trump said in an interview with CNBC.
Solar developers say the federal subsidies have been underperforming and have pushed prices up as the U and Chinese governments have increased their own solar energy production.
The president also said that he plans to propose changes to tax incentives and other incentives to solar projects.
He wants to increase payments to solar companies and give incentives to companies that can expand their operations to accommodate a growing population of consumers.
Trump has long been vocal about his support for solar energy and his administration has been working to bring solar back to full power.
Last year, he signed into law the Clean Power Plan that aims to reduce carbon emissions from power plants by 25% by 2030.
The plan is aimed at curbing climate change, but critics say it’s too expensive to implement, and that the EPA can still enforce it.
In an interview last week, Trump said that his plan will cost $200 billion a year, but a recent analysis from the Center for American Progress, which studies energy policy, estimated that the cost would be much higher.
Under the Trump administration, solar power has become a major part of the economy, with the average American generating nearly 2.5 megawatts of solar power per year, according to the solar industry group SolarCity.
But the subsidies that support solar have also been under pressure.
In 2017, the Obama administration announced a $30 billion subsidy for solar developers, but Trump said at the time that he was looking for a $100 billion subsidy.
While solar has been growing, the number has remained stagnant since 2010, when it was at a peak of nearly 3,000 projects.
This article was updated at 10:56 a.m.
PT to include the president’s statement about solar subsidies and to include comments from the solar community.