President Donald Trump’s “big beautiful” bill aims to boost oil and gas leasing but will likely increase electricity costs for Americans over the next decade, according to a new analysis from Energy Innovation.
The bill caps clean energy subsidies and phases out tax credits that made wind and solar power cheaper for manufacturers and consumers. This change is expected to slow the pace of new clean energy supply, leading to higher electricity bills and increased reliance on natural gas.
According to Energy Innovation’s report, average household energy costs will rise by $170 annually by 2035, with some states experiencing even greater increases. For example, Oklahoma’s residents can expect a $540 increase in their electricity bill by 2035 due to the loss of wind power tax incentives.
Other states that could see significant increases include North Carolina ($490), South Carolina ($630), and Texas ($480). Alabama, Florida, and Mississippi will also experience notable price hikes, with estimates ranging from $200 to $440 annually.
The report factors in changes in spending on various fuel types, including natural gas and gasoline, but most of the cost increases are related to electricity. The data excludes Alaska and Hawaii due to limited information available.
While the specific impacts vary by state, one thing is clear: Trump’s “big beautiful” bill will have far-reaching consequences for American households, with some seeing significant increases in their energy costs over the next decade.
Source: https://www.cnbc.com/2025/07/14/how-much-trumps-big-beautiful-bill-could-raise-electricity-costs.html