The post Killing Clean Energy Incentives May Boost Power Prices appeared on BitcoinEthereumNews.com.

Current Climate brings you the latest news about the business of sustainability every Monday. Sign up to get it in your inbox. getty Power to the grid from solar, wind and batteries has been the fastest-growing source of new U.S. electricity generation in recent years, but proposed cuts in federal support for clean energy in the budget bill passed by House Republicans threaten to reduce the amount of renewables added by at least 10% over the next decade, according to Bloomberg New Energy Finance. The “One Big Beautiful Bill Act” seeks to end clean energy tax credits for all new sources except nuclear power, unless their construction starts within 60 days of the bill’s enactment and their operations begin before 2029. If passed in its current form, the loss of incentives would likely lead to a short-term rush to buy and build renewable power projects, followed by a steep dropoff late this decade, BNEF said. While 10% fewer renewable energy projects over the next decade may not seem dramatic, the impact is magnified because energy demand is expected to grow dramatically over the same period. “Imagine that your income went down 10% just as a bunch of really expensive bills were coming due. That’s kind of what’s happening here,” said Derrick Flakoll, a BNEF senior policy associate. “We know there’s a lot of load growth that’s coming into the U.S.–more heat and hot days, more air conditioning and everybody is a little bit frantic about data centers,” he said. “We’re fairly conservative in our estimates for data center growth and we still see that load doubling by 2030 and that being the biggest driver of power demand growth in the next few years.” In the case of solar, the budget bill eliminates the investment and energy production tax credits that…

---

Filed under: News - @ June 9, 2025 2:26 pm