US EditionPower prices are expected to soar under new tax cut and spending law
UNITED STATES, JUL 15 – The new law will raise U.S. electricity rates by 9% to 18% on average by 2035 and cause steep increases up to 350% in some Republican-led states, analysts say.
- On July 4, President Trump approved legislation that removes federal tax benefits for renewable energy projects involving wind and solar power throughout the United States.
- The law follows a Republican-backed shift to reduce federal support for renewable energy and expand fossil fuel and nuclear funding.
- Energy Innovation projects electricity rates will rise nationally by 9% to 18%, with Republican-led states like Oklahoma facing increases between 60% and 350%.
- Taylor Rogers, a White House spokesperson, stated that the legislation will significantly enhance energy production by improving operational efficiency and increasing domestic output, while Trump described wind and solar power as harmful to the country.
- The law is expected to reduce affordable renewable development, increase reliance on costlier fossil fuels, and worsen energy insecurity, especially for low-income households in impacted states.
12 Articles
12 Articles
Red states face steep rise in energy bills as renewable tax cuts take effect
Electricity costs are set to rise nationwide after Republican-backed legislation eliminated federal support for renewable energy, with Republican-leaning states likely to see the sharpest increases, according to a new analysis.Oliver Milman reports for The Guardian.In short:A new Republican law, signed by President Trump, ends tax credits for wind and solar projects, pushing utilities to rely more on fossil fuels and raising electricity prices.H…
Climate Policy in America: Where We Go From Here
It’s official. On July 4, President Trump signed the Republican reconciliation bill into law, gutting many of the country’s most significant clean energy tax credits. The future of the American solar, wind, battery, and electric vehicle industries looks very different now than it did last year.On this week’s episode of Shift Key, we survey the damage and look for bright spots. What did the law, in its final version, actually repeal, and what did…
Power prices are expected to soar under new tax cut and spending law
The law that President Trump signed on July 4 ending tax incentives for wind and solar projects is expected to drive up electricity bills across the U.S., with some of the sharpest increases in Republican-led states, according to Energy Innovation, a nonpartisan think tank.Without tax credits, the cost of wind and solar plants will go up. Companies are likely to respond by building fewer of those projects, and those facilities that do come onlin…
Trump Bill will Skyrocket Electricity Prices, Especially in Red States
NPR: The law that President Trump signed on July 4 ending tax incentives for wind and solar projects is expected to drive up electricity bills across the U.S., with some of the sharpest increases in Republican-led states, according to Energy Innovation, a nonpartisan think tank. Without tax credits, the cost of wind and solar plants will … Continue reading "Trump Bill will Skyrocket Electricity Prices, Especially in Red States"
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