The Trump administration’s plans to repeal clean energy tax credits and reverse Biden-era greenhouse gas rules could spike annual energy costs for households in many states that voted for President Donald Trump, according to a new report.
The analysis from research firm Rhodium Group found that household energy costs could increase by $250 or more by the end of the decade in red states like Texas, Arizona and Nevada. On average, U.S. households could see their energy costs rise by $184 by 2030 and $371 by 2035 if Republicans repeal the Inflation Reduction Act and roll back EPA greenhouse gas regulations, the report said.
The findings suggest Trump’s proposals run counter to one of his chief pledges during the campaign: lowering energy bills. It also suggests that ramping up production of natural gas won’t prevent the cost spikes from abolishing former President Joe Biden’s climate agenda.
“Repealing the [IRA] credits has the effect of raising taxes on new power plants, carbon capture facilities, clean fuel producers, electric vehicles, refueling equipment, building heating equipment, new US energy technology factories, and a host of other investments,” the report said.
