Daily Update — July 25, 2025
Uncertainty in the Solar Industry; Augmented Reality in the Era of AI; and Asia’s Private Credit Potential
Today is Friday, July 25, 2025, and here’s your curated selection of Essential Intelligence on global markets from S&P Global. Subscribe to be notified of each new Daily Update.
Energy Transition & Sustainability
'Changing the rules of the game': budget law, Trump order rock US solar sector
The US solar industry is working to assess the impact of President Donald Trump’s budget bill and executive order on project finance and manufacturing.
Trump’s budget reconciliation bill, signed July 4, limits renewable energy tax credits by moving the four-year phaseout of the 48E investment tax credit and 45Y production tax credit to 2028 from 2032. The budget law also requires projects to either commence construction by July 4, 2026, or be placed in service by the end of 2027 to receive the credits. If a project begins construction over the next year, it has four years to enter service to be eligible.
Artificial Intelligence
Startups aim to improve AR visualization tools for the future of AI
Nearly 20 years after Alphabet bought Keyhole in a deal that would lead to Google Maps, the Augmented World Expo rallied around the potential of digital cartography in the era of AI and augmented reality.
S&P Global Market Intelligence Kagan has long defined the metaverse as an array of innovations that change the way humans and machines interact with one another and with data. The Augmented World Expo 2025 demonstrated that the foundational tech for this convergence has seen significant advancements.
Private Markets
Listen: Unlocking Private Credit Potential in Asia
On this episode of the “Private Markets 360°” podcast, Chris Botsford, co-founder and chief investment officer at ADM Capital, shared insights on Asia’s private credit market.
Botsford discussed his experience investing in underfinanced small and medium-sized enterprises, the importance of environmental, social and governance principles, and the critical role of local relationships in navigating diverse jurisdictions.
In case you missed it
- Flutter Entertainment is poised for a 21% year-over-year rise in revenue to $17 billion in 2025 and an increase in net income to $844 million from $43 million.
- Iranian officials are hoping a fresh round of nuclear talks with European countries could lead to an easing of sanctions and a return of international oil companies to help lift the country's production levels.
- Chinese demand for Indian 100% broken white rice has slowed, leading to slight pressure on prices, market sources told Platts.
Upcoming events
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