Federal act upends energy efforts
It is anticipated that President Trump’s One Big Beautiful Bill Act (OBBBA) will raise clean energy project costs by 10–20%, increase the risk of grid shortfalls and raise electricity prices up to 60%. This is due to the elimination and acceleration of many clean energy incentives in the Inflation Reduction Act (IRA) signed into law by President Biden in 2022. Under the OBBBA, key tax credits for electric vehicles, residential/commercial solar, and battery storage will be phased out between 2025-2027. The rollbacks in the OBBBA would pose immediate planning and financial ...