President Donald Trump has accused renewable energy sources like wind and solar power of causing skyrocketing energy costs. However, energy experts say the main factors are increasing demand, aging infrastructure, and extreme weather events exacerbated by climate change.
Trump’s comments come as electricity prices rise at more than twice the rate of inflation, with natural gas prices also on the rise due to increased exports to Europe. The president promised to lower Americans’ electric bills by 50%, but his actions have instead been criticized for hamstringing clean energy.
Industry groups and experts point out that renewable sources are a crucial part of meeting increased energy demand and powering the grid, offering some of the cheapest and fastest ways to provide electricity. They argue that blocking cheap, clean energy while doubling down on outdated fossil fuels makes no economic or environmental sense.
The report from Energy Innovation, a non-partisan think tank, found that the GOP tax law will increase the average family’s energy bill by $130 annually by 2030. Renewable advocates say the real scam is blaming solar for fossil fuel price spikes and that farmers, families, and businesses choose solar to save money, preserve land, and escape high costs of old fuels.
Energy Secretary Chris Wright blamed rising prices on momentum from Biden-era policies supporting renewable power over fossil fuels. Republican Iowa Sen. Chuck Grassley has also expressed support for wind power and placed a hold on three Treasury nominees to ensure wind and solar have an appropriate glidepath for the orderly phase-out of tax credits.
Despite criticism, Trump remains committed to his stance, saying wind and solar power are “THE SCAM OF THE CENTURY!” Experts argue that the president’s policies will have severe economic and environmental consequences.
Source: https://abcnews.go.com/Business/wireStory/trump-blames-renewable-energy-rising-electricity-prices-experts-124860028