Pittsburgh, PA…President Trump Participates in the Inaugural Pennsylvania Energy and Innovation Event
President Trump Participates in the Inaugural Pennsylvania Energy and Innovation Event added by admin on
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The law that President Trump signed on July 4 ending tax incentives for wind and solar projects is expected to drive up electricity bills across the U.S., with some of the sharpest increases in Republican-led states, according to Energy Innovation, a nonpartisan think tank.
Without tax credits, the cost of wind and solar plants will go up. Companies are likely to respond by building fewer of those projects, and those facilities that do come online will have bigger price tags, according to multiple estimates. As that happens, the country is expected to generate more electricity from natural gas plants, which are often more expensive to run than wind and solar projects.
That shift will hit hardest in states that don’t have their own policies to drive renewable energy development, says Dan O’Brien, a senior analyst at Energy Innovation. In Oklahoma, for example, homeowners, renters and businesses are likely to see electricity rates shoot up by between 60% and 350% over the next decade, according to Energy Innovation. The firm expects rates to rise by at least 48% in Kentucky, 39% in Missouri and 30% in Kansas. The congressional delegations of those states are overwhelmingly Republican.
“In a world before the bill, you would have a lot of cheap renewables” built regardless of state policies, O’Brien says. “But after the bill, there’s nothing making sure those keep coming on, so you’re seeing a lot more expensive gas generation.”
A White House spokesperson, Taylor Rogers, said in a statement to NPR that Trump has taken steps to boost U.S. energy production.
“The One, Big, Beautiful Bill will turbocharge energy production by streamlining operations for maximum efficiency and expanding domestic production capacity, which will deliver further relief to American families and businesses,” Rogers said.
At a Cabinet meeting last week, Trump called wind and solar energy “a blight” on the country. “They hurt our country very badly,” he said. “And smart countries don’t use it.”
Renewable energy was the top source of new electricity generation globally last year, with much of it installed in China, according to the International Energy Agency.
“Chinese leadership does understand how big a problem climate change is. They’re getting hurt by climate impacts,” says Doug Lewin, an energy consultant in Texas. But, he says, “once you get into it, you’re like, ‘Oh, wait a minute — this just makes economic sense.'”
The cost of wind and solar projects has fallen dramatically. In the U.S., those industries — like the fossil fuel sector — have also been helped for decades by federal tax incentives.
“Wind is a critical part of our nation’s all-of-the-above energy strategy,” Sen. Chuck Grassley, an Iowa Republican who calls himself the “father” of the wind-energy tax credit, said several years ago when wind farms became his state’s biggest source of electricity. “It creates thousands of jobs, supports economic development, boosts tax receipts, attracts investment in our state and puts extra money in farmers’ pockets.”
But for years, renewable energy executives and advocates have debated when and how to get off subsidies. Those discussions ramped up when the incentives were threatened by Congress, says Paula Mints, founder and chief analyst at SPV Market Research.
“I think we’ve become complacent, dependent on these tax credits, and I think we need to finally phase them out,” Craig Lawrence, a partner at the investment firm Energy Transition Ventures, said this month as the Senate debated cutting the incentives as part of the tax-and-spending bill.
However, the industry urged lawmakers to unwind the tax credits gradually to give companies time to adjust. What companies have gotten instead is chaos.
“I would characterize this as a high degree of volatility expected over the next year,” says Ryan Sweezey, director of North America power and renewables at Wood Mackenzie, an energy research firm. “I mean, the policy situation is still not clear.”
Under a deal struck by Republican senators, wind and solar projects are eligible for tax incentives as long as companies start construction within the next year and finish within four. That timeline was in the bill that Trump signed on July 4, setting up a scramble for companies to begin working on as many projects as possible.
But that was upended last week when Trump issued an executive order that directs the Treasury secretary to consider issuing new guidance for what companies have to do to meet the government’s “beginning of construction” standard. The goal is to keep companies from circumventing tax laws, according to the order.
Now, companies that build wind and solar projects are trying to figure out whether investors are going to put their deals on hold until they know what the administration will do, says Keith Martin, a lawyer at Norton Rose Fulbright.
“This Trump era is like trying to do business while bouncing up and down on a trampoline,” Martin says, adding, “It’s very hard to do business in that atmosphere.”
While electricity rates are expected to skyrocket in some states, Energy Innovation says costs are likely to rise across the country. Nationally, rates will increase by 9% to 18% on average by 2035, the firm says, and the U.S. will lose out on billions of dollars in planned investment and hundreds of thousands of jobs.
Renewable energy manufacturing could get hit especially hard. Companies that have opened U.S. factories to make solar panels and other components have said abruptly unwinding clean energy tax incentives would threaten a decade-long push to onshore manufacturing and challenge China’s dominance of the sector. The tax credits that are being eliminated encourage companies that build power plants to buy American-made products, like solar panels and other components.
The U.S. will also cut less of the climate pollution that’s contributing to more intense storms, floods and wildfires.
Under Republicans’ new tax-and-spending law, U.S. greenhouse gas emissions are expected to fall by 25% by 2035 compared with 2005 levels, according to an analysis by the ZERO Lab at Princeton University and Evolved Energy Research. That’s little progress from where the country is now. Last year, emissions were about 20% below 2005 levels, according to the Rhodium Group, a research firm. Under Biden-era policies, emissions would have fallen by at least 40% from 2005 levels by 2035, researchers at the ZERO Lab and Evolved Energy Research said.
“I don’t think subsidizing electricity just as a general matter necessarily makes sense,” says Noah Kaufman, a senior research scholar at the Center on Global Energy Policy at Columbia University, who served as a senior economist on the Council of Economic Advisers under former President Joe Biden. However, tax incentives for clean energy were extended during the Biden administration “as part of a broader strategy,” Kaufman says, “to address climate change and to better prepare the U.S. energy system and economy for the global energy transition.”
“Now,” Kaufman adds, “I think it’s fair to say the Trump administration doesn’t share either of those goals.”
Wi Tu Loe.
^^ Not bad for a 53 year old.
Hey Don!!! Wake up, your’e at a meeting dude!! Besides its time to change your catheter, and your depend. And put more cream on your hands, and maybe address those pesky swollen ankles. Then redo your spraytan!! But when your’e done, can you tell us how your Uncle taught Ted Kazinski, aka the unabomber, even though your uncle died 12 years before Ted was identified?
Thanks don. And I agree, I don’t “write” pictures either. Or is it eyether?
Anyways,
HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA
Waste of time reading Blah Blah Blah!
So maga is ok with the floods, and severe weather events, and the deaths.
Drill more more CO2, and pollution which also kills.
The cheapest by far is wind, solar, but maga and the fossil fuel, nuclear industries want more $ just like the billionaires who bought more tax cuts , and cause inflation with tariffs.
Amurikkka going great !
The reason in the mega bill was funding that makes ICE the 2nd largest budget allocation is for detention camps in at least 4 states.
Hundreds of thousands in these concentration camps is the plan.
It costs $700 per day per person for this incarceration.
It is much cheaper to fly them out as bush, Biden did.
Why incarcerate for indefinite time so many people ?
The only reason is to make the don’s cronies $ , as they do in the for profit prison system.
Planned is to have those incarcerated as labor for corporations. This is slavery.
Why are Republicans allowing the don to completely ignore our Constitution and laws?
The Republican party is now part of a criminal system, by allowing all the illegalities which used to be illegal.
This is what billionaire $ does to Democracy.
Bondi now has found the Epstein files, and the fraud “justice dept” is redacting any mention of the don in them.
How are liking Akurikkka now?
^^ Can I rub my helmet against your lips?
I claim the 5th.
This just in Trump Nimrods. Trump said people calling for the Epstein files to be released, those interested in truth and justice, are “stupid people” and he “doesn’t want their support anymore”. Hey Calaveras MAGA, that’s you he’s talking about!!! So now, if you would like to see some names on the Epstein list like Trump, Vance, Bongino, Carlson, podcasters galore, Ingram, Hannity said they wanted to BEFORE the election, and now many are saying just keep moving nothing there, then you are, according to Trump “stupid”.
How does it feel Calasheepians? You wanted him, some of you basing it on the fact that he was going to go full bore after the truth in the Epstein case. You got the liar in chief elected, and now he is chitting all over you. He is calling you stupid, he doesn’t want your support anymore.
And lets not even talk about the other lies he spewed out pre 11/2024. You know, food prices, gas prices, inflation, how he was going to stop the war in Ukraine “day one”, etc., etc., etc. He’s a pathological liar that cares about one thing, Donald J. Trump. Could care less about you, and what happens to this once great country.
FACE IT!!!!!! You yokels have been worked by the lyingest, most inept, diaper wearing, shyster to ever inhabit the White House. How does it feel? Bend over and take it like a man. You are getting what you asked for, what you deserve. No crying now bich.
And Anti, save it. I know I am getting phucked. By one Donald Trump. Your problem? Your too phucking stupid and gullible to know that you are also. Hell, you are probably enjoying it.
Just this week, the 79-year-old president hallucinated a lie about the Unabomber, forgot he appointed the Fed Chair he hates, blanked on names of officials, fell asleep at a rally, threatened to strip Rosie O’Donnell of her citizenship and spun wild theories about his good friend the pedophile.
^Yeah. His Uncle who died in 1985 “taught” the Unabomber Kazinski. Trump said he asked his unc about Ted and his unc said he was a brilliant student. Unfortunately Uncle John died before the identity of ol’ Ted was uncovered. So how did Donald know to ask his unc about the Unabomber before he, the unc, died? Just askin……………………………….
Instead of bashing Trump, why don’t you post what you love about the democratic party?
Dems aren’t the people in power. Trump has the house the senate and the Supreme Court.
So what, we put up with the completely corrupt Tard party, get a life! I like the comment” point out the greatness of the TARD PARTY, WHAT WAS IT DURING JOIES REIGN! We are all waiting, 1,2 3 GO!
Here, I’ll help you:
1. At least 20 million illegals allowed to invade my country
2. Some 300,000 unaccompanied minors let in and many have disappeared
3. The biggest Fetanal smuggling into our country
4.Lawlessness at every level, no cash bail
5. Go on and fill the next 95 out, I’m sure you can
None of these are true, hope that helps!
Above comment true. To the commentor. Forgive them for they watch only FOX.
Pull your head out of your ass Adam.
I like the guy that answered his own question with Fuax News talking points what a fu€king idiot. Try some basic research a$$hole
^^Its not your country arsehole. Its our country redneck.
Was that #6
A 2002 New York magazine profile of Epstein quoted Trump. “I’ve known Jeff for 15 years. Terrific guy,” Trump said. “He’s a lot of fun to be with. It is even said that he likes beautiful women as much as I do, and many of them are on the younger side. No doubt about it—Jeffrey enjoys his social life.”
Trump and Epstein sexually assaulted young girls. But Republicans would cover up everything. If they could. Sorry that’s not happening.
Trump’s going down. Faster than Epstein
Adam Perry pretty good when he goes down on me with his teeth out.
No Steers or Queers in Texas, that’s why I moved to Calif., yours truly Adam Perry
Hey Adam. What are you doing a bit later?? Wink, wink.
I’m headed over to Anti’s house to give him a hummer.
Adam Perry is it true your ass slipped off a bar stool and you fell to the floor last night at the Murphys Hotel because it was over lubed with KY Jelly?
Anti, it’s time to take a break. From the drugs and alcohol. Get back on your medication
Adam I’ll take it up with my local grocer.
Take it up with the to catch a predator pod cast
Wow! that’s pretty good come back for a 53 year old…,,,
Hey You^^^^Eat my fecal stained shorts!!!
You should do a better job wiping your ass.
OMG frumps in the Epstein file.
Wow that’s a pretty good come back for a person who is mentally five years old
^^^ Is that it?