ICYMI: The Republican War on Clean Energy Is Raising Energy Costs for American Families 

Washington, DC — As House Republicans have now voted to pass their budget resolution, they are putting clean energy on the chopping block. This week, the Clean Energy Buyers Association (CEBA) and conservative think tank American Enterprise Institute (AEI) released reports detailing how threats to repeal clean energy tax credits will raise Americans’ energy costs. Taken together they explain a simple truth: Republican attempts to decimate clean energy supply at the same time as energy demand is skyrocketing will result in higher prices for everybody.

CEBA Report: “Repealing Clean Energy Tax Credits Would Raise Electricity Prices for American Families and Job Creators Across the United States”

Key findings from the report include:

• Repealing the clean energy tax credits will increase the average household utility bill by more than $110 per year, while businesses would see at least a 10% increase, to be passed on to consumers.
• Repeal will decrease energy supply at a time when we need it most. Increased energy supply is critical to support 21st century industries such as artificial intelligence and advanced manufacturing. Repealing the credits would decrease available capacity on the grid by 167 gigawatts (GW)–a major blow in the economic race against China.
• Repealing the clean energy tax credits will only worsen the cost-of-living crisis for Americans. As CEBA CEO Rich Powell says, “Maintaining the federal investment and production tax credits will enable electricity producers, buyers, and their customers to supply an abundance of low-cost energy sources. Weakening or repealing these provisions would unequivocally mean higher electricity costs for U.S. households and businesses, especially in America’s heartland.”

AEI Report: “Innovating Future Power Systems”

Key findings from the report include:

• Electricity prices are tracking toward heights unseen since the 1990s when factoring in inflation. Skyrocketing demand from power-hungry technology like artificial intelligence is driving the trend, and Americans are feeling the pinch.

Trump and Republicans ran on a promise to cut energy costs in half in his first year, but now they are already driving inflation up. The Republican War on Clean Energy is pulling the rug out from under 21st century American industries such as wind, solar, and battery manufacturing–putting American energy supply, jobs, and national security in peril. The House budget bill is their attempt to gut it all, just to pay for more tax cuts for billionaires while American families are left with the bill. Trump and his billionaire donors are making themselves richer while sending our utility bills through the roof.