ICYMI: CNN: Trump Promised to Cut Electric Bills in Half. His Energy Policy Is Doing the Opposite, New Analysis Finds
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Washington, DC – Trump promised to cut electricity bills in half, but new analysis from Energy Innovation shows that his policies are driving up costs instead — and will continue to for years to come. On average, individual households will pay $460 more for their energy costs by 2035, and up to $490 more per household by 2040. Trump has created a self-inflicted energy affordability crisis, with electricity prices already spiking by 18% since he took office. At a time when we need more energy than ever, Trump has taken the fastest, cheapest energy sources offline. Now, families have to make difficult choices between filling up their tanks and cooling their homes during extreme heat.
A sudden electricity crunch in the US, driven by artificial intelligence, is colliding headlong with the Trump administration’s attacks on wind and solar. President Donald Trump has presented his anti-renewable stance as a way to cut energy costs — but a new analysis suggests limiting energy development at a time of high demand will result in Americans paying even more for power.
The new report from clean energy think tank Energy Innovation suggests higher energy bills will continue for the next decade, tied directly to Trump’s policies. It comes as energy affordability is emerging as a key issue in this year’s midterm elections.
A year ago, Republicans in Congress killed a clean energy law that had contained billions in subsidies for renewables, electric vehicles, rooftop solar and household batteries. The administration has made it harder to permit clean energy projects and has tipped the scales in favor of more expensive coal-fired power. And Trump’s government has waged a largely successful onslaught against the budding electric vehicle market in the US…
On the campaign trail, Trump vowed to cut electricity bills in half in his first year in office. But the collective impact of the administration’s actions will raise costs on American households by more than half a trillion dollars by 2040, Energy Innovation found. On average, individual households will pay $460 more for their energy costs by 2035, and up to $490 more per household by 2040.