Trump’s Energy Bill: Higher Costs and Increased Emissions Ahead

Fast Summary

• Bill Overview: President Donald Trump’s sweeping budget legislation, known as the One Big Beautiful Bill Act, is projected to increase household energy expenses, reduce renewable energy installations, adn raise greenhouse gas emissions.
• Economic Impact: Energy modeling released by Rhodium Group predicts household energy bills will rise between $78-$192 annually by 2035 due to fewer electric vehicles and higher gasoline costs. Other assessments suggest increases of up to $280 annually.
• Renewable Energy Decline: Installations of wind and solar projects are expected to fall by approximately 57-62%, substantially reducing renewable electricity generation capacity in the coming decade.
• Emissions Projection: The U.S. could see emissions reductions drop from an earlier forecasted range of 38-56% below 2005 levels by 2035 to an adjusted range of 27-44%.
• Shift to natural Gas: FTI Consulting anticipates an increase in natural gas plant construction and demand for power generation due to reduced clean energy tax incentives.
• Research Consensus: Multiple research groups (Rhodium Group, FTI Consulting, Princeton’s Repeat Project) align in predicting slower adoption of clean technologies and elevated greenhouse gas emissions.

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