Zero: The Climate Race Trumponomics: Will Trump’s bill trigger a ‘Big, Beautiful’ energy crunch?
Jul 14, 2025
Ethan Zindler, head of policy research at BloombergNEF and former climate counselor to Treasury Secretary Janet Yellen, is joined by Bloomberg reporter Emily Birnbaum, who covers corporate lobbying in DC. They dive into how recent legislative changes threaten the renewable energy sector, risking higher electricity bills. The discussion highlights the tension between fossil fuel interests and clean energy initiatives, exploring the implications for U.S. competitiveness in AI and the ongoing struggle to balance energy policies amidst political lobbying.
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Clean Energy Tax Credit Rollback
- The Republican mega bill removes tax credits for clean energy, increasing wind and solar project costs and reducing builds.
- This rollback risks higher electricity prices and setbacks in US climate progress and decarbonisation efforts.
Rising Demand Meets Renewable Growth
- U.S. electricity demand is rising rapidly due to AI data centers and future electric vehicles.
- Renewables are the main new source of capacity, replacing coal and supporting decarbonisation.
Renewables Vital Despite Cheap Gas
- Natural gas is cheap in the U.S., but gas turbines are backordered for years, limiting new gas plants.
- Renewables must meet rising electricity needs, though costs rise without tax credits.