The One Big Beautiful Bill Act, passed by Republican lawmakers, could lead to the worst energy-affordability crisis since the 1970s. The bill repeals tax credits for clean energy projects that don’t meet specific construction and operational requirements. This decision will result in higher prices for electricity, causing widespread economic hardship.
According to federal data, renewable energy sources now account for 93% of new electricity capacity added to the grid. However, the repeal of these tax credits will increase the cost of building clean power sources by 50%, making it harder to meet rising demand. The consequences of this decision will be felt across the US, with states like Kansas and Texas expecting sharp increases in electricity costs.
Energy industry experts warn that the bill will lead to blackouts, grid outages, and a decline in competitiveness for industries reliant on clean energy. China will also solidify its dominance over clean-energy supply chains as American companies struggle to adapt. The decision is seen as a partisan move to punish Democrats, with some Republicans willing to inflict economic pain on their own voters.
Source: https://www.theatlantic.com/politics/archive/2025/07/congress-electricity-tax-cuts/683416