Trumponomics Will Trump’s Bill Trigger a ‘Big, Beautiful’ Energy Crunch?
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Jul 9, 2025 Ethan Zindler, head of country and policy research at BloombergNEF, and Emily Birnbaum, a Bloomberg reporter focused on corporate lobbying, delve into the recent legislative shifts affecting renewable energy. They discuss how a major bill may drive up electricity costs and undermine U.S. competitiveness in AI. The implications of cutting clean energy tax credits and the influence of lobbying are explored, highlighting political tensions and the challenges faced by the renewable sector amid changing energy demands.
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Republican Bill Slows Renewables
- The Republican bill eliminates tax credits for clean energy, raising costs and slowing renewable project construction.
- This threatens US competitiveness, increasing electricity prices and impeding AI infrastructure growth.
Treasury To Tighten Construction Rules
- The White House ordered the Treasury to tighten rules on what counts as 'under construction' for renewable projects.
- This could retroactively disqualify many projects from tax credits, creating industry uncertainty and urgency.
Surging Electricity Demand Meets Renewables
- US electricity demand, driven by AI and EVs, is expected to double by 2050.
- Renewables have grown rapidly and are the lowest-cost sources for new capacity, making subsidy removal counterproductive.