Republican Budget Bill to Raise People's Energy Prices - CleanTechnica

The article from CleanTechnica discusses the potential negative impacts of a Republican budget bill that aims to repeal clean energy tax credits established under the Inflation Reduction Act. According to a report by NERA Economic Consulting, commissioned by the Clean Buyers Energy Association, removing these technology-neutral tax incentives—such as the §45Y production tax credit and §48E investment tax credit—would lead to higher energy prices across 19 states. The analysis highlights that without these credits, energy systems would rely more heavily on traditional, costlier energy sources, resulting in significant electricity price increases, with seven states facing double-digit percentage hikes between 2026 and 2032. The broader economic consequences of repealing clean energy tax credits are severe. The report warns that inflated energy costs would suppress commercial and industrial activity, reduce labor and capital demand, and cause wage losses and declining household incomes. This combination would constrain consumer spending and economic resilience, leading to shrinking economies, increased financial strain on households, and potential job losses in key