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 online will have bigger price tags, according to multiple estimates. As that happens, the country is expected to generate more electricity from natural gas plants, which are often more expensive to run than wind and solar projects.

That shift will hit hardest in states that don’t have their own policies to drive renewable energy development, says Dan O’Brien, a senior analyst at Energy Innovation. In Oklahoma, for example, homeowners, renters and businesses are likely to see electricity rates shoot up by between 60% and 350% over the next decade, according to Energy Innovation. The firm expects rates to rise by at least 48% in Kentucky, 39% in Missouri and 30% in Kansas. The congressional delegations of those states are overwhelmingly Republican.

  • BigMacHole@sopuli.xyz
    10·
    4 days ago

    It’s the DEMOCRATS Fault that the Republican Controlled House passed the Republican Controlled Senate’s BILL that Republican Leader Donald Trump CHAMPIONED!

    • Steve@slrpnk.netOPM
      32·
      4 days ago

      While there may be some truth in that it’s a pretty broad generalization and the article isn’t about blame it’s about the impact the bill will have.

  • Skysurfer@slrpnk.net
    4·
    4 days ago

    This will be another hurdle for electrification of all types as it will make less economic sense for the average home with substantial electricity price increases while fossil fuels prices are kept artificially low. The only silver lining is it might make solar/battery storage more attractive to have less reliance on the high priced grid electricity for those that can afford the upfront investments.

    Electric vehicles will be especially hit since you already have fast chargers like GM Energy charging 0.55-0.60c/kWh which ends up being more expensive than driving a ICE vehicle getting 20-25mpg at the current prices.