ICYMI: Clean Energy & Climate Provisions of the Build Back Better Act Can Pass The Climate Test And Deliver $500 in Savings to American Households
FOR IMMEDIATE RELEASE
October 22nd, 2021
Contact: Jason Phelps, [email protected]
Experts From The Rhodium Group and the Center For American Progress Discuss New Modeling Showing That The Build Back Better Act Can Pass The Climate Test, Send The President To COP26 In A Strong Position, And Save Families $500 Per Year In Energy Costs
WASHINGTON, DC — Yesterday, experts from the Rhodium Group and the Center For American Progress joined Climate Power to discuss a new analysis showing that Congress can still pass the climate test, and save households $500 annually if Congress preserves federal investments in clean electricity, electrification, and efficiency.
“When you add it all up, we found that if Congress acts this year and passes both the infrastructure and spending bills, we can get to 45-51% below 2005 levels by 2030. The U.S. can do this while cutting conventional pollution—nasty pollutants from power plants like SO2 and NOX that cause asthma and other extra hospital visits and premature deaths—and can save every American household on average $500 per year in their energy costs by 2030.“ said John Larsen, a Director at Rhodium Group.
In recent days, leading climate journalists like Sammy Roth (Los Angeles Times) and David Roberts (Volts) wrote about the options Congress has to achieve the President’s goal of cutting emissions in half by 2030. The Rhodium Group’s findings are also supported by recent research from Energy Innovation, Resources for the Future, and Princeton’s REPEAT project. All find that several different versions of the bill that include both clean energy tax credits and the Justice40 framework is a strong foundation for climate action.
“Fossil fuels are volatile and costly—not just for our wallets, but also for our health and our climate. And the ideal response is to invest in clean energy, in electricity, electrification and efficiency. We’ll save $500 a year in reduced energy costs according to this new modeling from the Rhodium Group,” said Trevor Higgins, Senior Director of Domestic Climate and Energy at the Center For American Progress. “In years past there’s been a tension between climate change and fears about what it would mean for consumer costs. In this case, all of the incentives align: when fossil fuel prices are high, it makes sense to switch to more affordable clean electricity.”
“We all know that all eyes are on the U.S. and how it will show up at the COP. While negotiations are ongoing, and we understand that delivering on the Build Back Better agenda is extremely important, we are very encouraged by the fact that the President and the administration have put forward a very strong executive branch plan at the agency level,” said Frances Colón, Senior Director for International Climate and Energy at the Center For American Progress. “He has implemented a whole of government approach that is going to cut climate pollution in half by 2030. This is a challenge that is at the center of the President’s agenda—and it’s what voters put him there to do.”