Derek Merrin: The One Big Beautiful Bill Was Projected To Raise Household Energy Costs In Ohio By $410 Per Year In 2035 As Reductions In Planned Clean Energy Projects Decreased Available Energy Supply
Energy Innovation: The One Big Beautiful Bill Was Projected To Raise Household Energy Costs In Ohio By $410 Per Year In 2035
Energy Innovation: The One Big Beautiful Bill Was Projected To Raise Household Energy Costs In Ohio By $410 Per Year In 2035. “Increased capital, fuel, and operating expenses from the OBBBA would raise Ohio consumer energy bills, forcing households to pay more for their electricity and natural gas. The bill would increase household energy spending by an average of nearly $180 per year in 2030 and nearly $410 per year in 2035. Statewide, households will foot $11 billion in increased energy bills through 2035.” [Energy Innovation, June 2025]
The Republican Reconciliation Bill Would Raise The National Average Retail Electricity Rates By 9% In 2030. “A tax package on track to pass both chambers of Congress would raise electricity prices, accelerate the release of heat-trapping greenhouse gases and undercut low-emission energy investments, according to researchers who have analyzed the legislation. [...] Overall, the bill would raise ‘national average retail electricity rates and monthly household electricity bills by about 9% in 2030,’ researchers at Princeton University concluded.” [NJ Spotlight News, 6/5/25]
Price Increases Were A Product Of Rising Energy Demand And Decreased Energy Supply As The One Big Beautiful Bill Phased Out Tax Credits For Clean Energy
July 2025: The One Big Beautiful Bill Rapidly Phased Out Tax Credits For Clean Energy. “Congress moved one step closer to passing President Donald Trump’s ‘One Big, Beautiful Bill’ this week — and with that, one step closer to spiking power bills across the nation. The bill would rapidly phase out tax credits for clean energy, slowing the construction of solar, wind, and battery projects, which made up over 90% of new electricity connected to the grid last year.” [Canary Media, 7/3/25]
Cuts To Clean Energy Tax Credits Would Cause Factories To Close And Decrease The Likelihood Of Future Project Development. “President Donald Trump’s One Big Beautiful Bill Act ends long-standing federal support for solar and wind power, while creating a friendly environment for oil, gas and coal production. [...] A related tax credit for using U.S.-made components in solar and wind farms ends for projects that enter service after 2027. A carveout allows projects that start construction within one year of the law’s enactment to claim the credit. The credit was designed to spur demand at U.S. factories in order to break the nation’s dependence on equipment from China. ‘If nothing changes, factories start to close,’ Michael Carr, executive director of the Solar Energy Manufacturers Association, told CNBC. ‘Factories that are on the drawing board that probably penciled [favorably] two weeks ago, maybe don’t pencil now. We’ll see investment slow down in the sector going forward.’” [CNBC, 7/3/25]
July 2025: Canary Media: Increasing The Nation’s Energy Supply Was Critical To Preventing Energy Price Hikes, As Demand For Electricity Rose Nationwide Due In Large Part To Data Centers. “Clean energy is the cheapest and easiest way to get power onto the grid. With demand for electricity nationwide rising due in large part to AI data centers, swiftly bringing affordable energy online is more crucial than ever. But if tax incentives are repealed, fewer solar, wind, and storage projects will be built. Between now and 2035, the U.S. could see 57% to 72% less new clean-energy capacity come online than it would have with the tax credits in place, according to Rhodium Group. Meanwhile, new gas construction likely can’t make up the difference in the near term: Developers who want to build new gas power plants face wait times of up to five to seven years for turbines.” [Canary Media, 7/3/25]
Canary Media: Ohio “Imports About A Quarter Of Its Electricity From Other States,” Underscoring Ohio’s Need For More Clean Energy Generation. “The Ohio Chamber of Commerce would like the Inflation Reduction Act’s tax credits to continue through 2035, said Tony Long, the organization’s general counsel and director of energy policy. The state needs more energy generation, he added, noting that Ohio imports about a quarter of its electricity from other states. ‘These credits will help continue to drive new development of energy sources,’ Long said, noting that IRA tax credits have helped small and medium-sized businesses grow.” [Canary Media, 6/30/25]
Even Republican Representatives Acknowledged The One Big Beautiful Bill Would Raise Energy Costs For American Consumers
June 2025: 13 House Republicans Signed A Letter Saying They Were “Deeply Concerned By Several Provisions” Of The Megabill’s Clean Energy Tax Credit Rollbacks. “Thirteen House Republicans are urging Senate leaders to ‘substantially and strategically’ improve clean energy tax credit provisions in the House-passed megabill. Led by Rep. Jen Kiggans (R-Va.), the lawmakers said they remain ‘deeply concerned by several provisions’ that would aggressively phase down incentives from the Democrats’ 2022 climate law and add strict new supply chain requirements.” [Politico, 6/6/25]