This report examines the potential impact of the looming expiration of multiple subsidies for the clean energy industry in the United States. It finds that nearly all clean energy industry segments still rely on subsidies. The "winding down" of incentives provided by the American Recovery and Reinvestment Act of 2009 and the concurrent expiration of several tax credits and programs could create a serious challenge for the industry in the near future. However, the report also notes that the end of previously sub-optimal subsidies and clean energy policies creates an environment of possibilities. The authors argue that newer, smarter policies and subsidies can take their place.