Trump’s Economy: Skyrocketing Energy Costs and Pink Slips

Four clean energy projects were canceled or laid off workers last week as Americans in four states faced rate hikes as high as $15 per month 

Under Trump’s watch, 363 clean energy projects have canceled new projects, delayed new investments, laid off workers, or lost federal funding

Washington, DC – On the campaign trail, Trump promised to slash energy costs in half his first year in office. Instead, his war in Iran is making gas prices skyrocket, and his attacks on clean energy have spiked electricity costs by as much as 13%, shuttering factories across the country. A report from the largest regional power market confirmed that they don’t have the supply to meet growing demand from data centers as Trump and Republicans take clean energy options off the grid, sending utility bills through the roof. 

Just in the last week, four clean energy projects were canceled or laid off workers and five rate hikes were approved or proposed. At the same time, Trump’s war in Iran is pushing gas and diesel prices to multi-year highs – making everything from airfare to groceries more expensive. 

Michigan 

• Montcalm Wind Project was canceled in Montcalm County, Michigan, killing 15 full-time jobs and taking enough energy to power 90,000 homes off the grid. 

Massachusetts 

• Sublime Systems, a low-carbon cement startup, laid off two-thirds of its staff because of federal grant cancellations. 
• 24M Technologies, a battery developer, shuttered, laying off 135 workers. 

Washington 

• Doosan Gridtech, a firm that developed software to support utility-scale battery energy storage systems, laid off even more employees after announcing layoffs late last year. 

Connecticut

• Yankee Gas was approved to increase rates, raising average residential customer bills by more than $15/month. 

Hawaii

• Hawaiian Electric submitted a rate hike proposal that would increase rates between 5% and 6.4%, raising average monthly electric bills by $8 in 2027 and another $3 in 2028.

Kansas

• The city of Holton announced electricity rates would increase by 10% starting April 1, 2026, with another 6% increase scheduled for 2027. 

North Carolina

• The Winterville Town Council approved a temporary rate hike effective March 15, 2026, to July 1, 2026, that will increase average monthly electric bills by $10 during that period.
• The New Bern Board of Aldermen voted 5-2 to approve a 2% electric rate increase that will increase residential rates by .9% starting April 1, 2026.