1A The Megabill And The Green Economy
Jul 10, 2025
Join J.L. Holtzman, Senior Reporter at Heatmap News; Robbie Orvis, Senior Director at Energy Innovation; and Katie Fehrenbacher, Climate Tech Reporter for Axios Pro, as they navigate the complexities of the recent climate legislation. They discuss how new laws impact electricity costs, particularly in Texas, and the potential repercussions for solar and wind projects. The experts highlight the urgent need for renewable energy resources amid rising energy consumption and examine the balance between innovation and legislative challenges in the green economy.
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Bill Slashes Clean Energy Credits
- The new bill repeals tax credits essential for wind and solar projects, requiring fast construction and operation timelines that many projects can't meet.
- An executive order further ends subsidies for wind and solar, significantly impacting the clean energy sector's growth.
Costs and Impact of Credit Removal
- Removing clean energy tax credits will double the cost of building wind, solar, and battery projects.
- This cost increase will lead to fewer new clean energy projects and higher electricity prices passed on to consumers.
Rising Energy Demand from AI
- Energy demand in the U.S. is rising rapidly due to growth in data centers and AI.
- The loss of planned solar and wind capacity could equal a massive power shortfall that still needs to be met.