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hatrack

(63,052 posts)
Wed Jul 16, 2025, 08:50 AM Wednesday

Freedumb! W. Renewable Energy Tax Credits Gone For Utilities, Consumers Will Pay More - Up To $600+/Year

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By stripping away support for cheap solar and wind energy production, the legislation is set to cause electricity rates paid by families and businesses, many already struggling to pay their bills, to rise by much as 18% by 2035, according to an analysis by Energy Innovation, an energy and climate policy think tank.

Household energy costs, which span electricity and gas use, will rise by $170 on average every year by 2035, the report finds, with Republican-leaning states bearing the brunt of the increases. Bills in Missouri will spike the most, by $640 a year, with the next largest increases – in Kentucky, South Carolina, Oklahoma, North Carolina and Texas – all also hitting states that voted for Trump in last year’s presidential election. Trump won the election, in part, by promising to lower inflation and cut US energy costs in half within a year. In office, he has sought to boost fossil fuel consumption while slashing incentives for clean energy projects and barring them from federal lands.

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Environmental groups were scathing of the Republicans who voted for the reconciliation bill. “After an election where cost-of-living was the driving issue that pushed millions of working-class Americans to check the box for Donald Trump, it’s mind-boggling that Republicans just passed a bill that will raise costs across the board,” said Lena Moffitt, executive director of Evergreen Action, a climate change advocacy organization, who called the legislation “one of the most catastrophic bills in a generation”.

Electricity prices for American households have already increased above the rate of inflation since 2022, with a slew of new data centers for artificial intelligence helping push up overall demand for power. This trend has placed further strain upon “energy insecure” people who struggle to meet the cost of heating, cooling and lighting their homes. Around 34m households, more than a quarter of all dwellings in the US, reported difficulties in paying energy bills in 2020.

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https://www.theguardian.com/us-news/2025/jul/14/trump-tax-bill-energy-republican-states

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Freedumb! W. Renewable Energy Tax Credits Gone For Utilities, Consumers Will Pay More - Up To $600+/Year (Original Post) hatrack Wednesday OP
Trump promising to lower inflation and cut US energy costs in half within a year. chouchou Wednesday #1

chouchou

(2,159 posts)
1. Trump promising to lower inflation and cut US energy costs in half within a year.
Wed Jul 16, 2025, 09:23 AM
Wednesday

I almost wish I had luck that Donald Trump has. He's consistently always wrong.
Yes...if I could take his reality, I'd t be disgustingly rich...I'd tell my friends "I'm NOT going to hit the Powerball tonight!"

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