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What could the 'big, beautiful bill' mean for power prices?

2 1
29.05.2025
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Energy & Environment

Energy & Environment

 

The Big Story

GOP bill could raise power prices, analyses say

The legislation guts massive subsidies for climate-friendly energy sources, including wind and solar power.

© Gerry Broome, Associated Press file

Provisions slashing energy subsidies are expected to have significant ramifications on not only the nation’s greenhouse gas emissions but also energy prices.

A recent analysis from BloombergNEF said that a repeal of the green tax credits would result in 17 percent less renewable construction. It said that the cut, combined with growing electricity demand, is “a recipe for spiking power prices.”

Ethan Zindler, policies and countries analyst with BloombergNEF, said that for analysis purposes, the changes made in the House bill are akin to a full repeal.

“The tax code at the moment helps to reduce the cost of electricity for consumers from renewables, which today account for the vast majority of what gets added to the grid,” he said.

“If you remove those supports, then developers will simply seek to charge more, and in a number of cases, utilities will be forced to pay more, and those costs will flow through to consumers.”

Several analyses estimate that electric bills could rise noticeably as a result.

A Rhodium Group estimate has found that keeping the tax credits in place could save consumers 2 to 4 percent on their electric bills in 2030 and 2 to 5 percent in 2035.

© The Hill