The law signed by President Trump on July 4 ends tax incentives for wind and solar projects, with expected consequences including increased electricity bills nationwide. In Republican-led states, the situation is particularly dire, with Oklahoma potentially facing electricity rate hikes of 60% to 350% over the next decade. States like Kentucky, Missouri, and Kansas are also projected to see significant increases. The cost of building wind and solar plants will rise, leading to fewer projects and greater reliance on expensive natural gas generation.
Without tax credits, the cost of wind and solar plants will go up, resulting in fewer projects being built and increased electricity bills across the U.S.
Electricity rates are expected to rise significantly in Republican-led states, with Oklahoma residents potentially facing increases between 60% and 350% over the next decade.
The shift from renewables to natural gas generation will increase costs, particularly in states lacking policies to promote renewable energy development.
Trump described wind and solar energy as 'a blight' on the country and stated steps are being taken to boost U.S. energy production.
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