Full Title: Federal Clean Energy Tax Credits Make Energy More Affordable– A Meta-Analysis
Author(s): Dan O'Brien and Jack Conness
Publisher(s): Energy Innovation
Publication Date: April 1, 2025
Full Text: Download Resource
Description (excerpt):
A new Energy Innovation meta-analysis finds repeal of the §45Y and §48E technology-neutral electricity tax credits would raise the nation’s household energy bills around $6 billion annually in the next five years and $25 billion annually by 2040. This amounts to $40-$60 per household in 2030 and $140-$220 annually per household in 2040. In some states, the impacts are particularly stark. Repeal of the credits would increase household energy costs by more than $400 a year in Missouri, Arkansas, Texas, New York, Iowa, and Kansas, for example. This comes at a time when electricity bills for American homes and businesses have been shooting up– costs increased 22 percent from 2018 to 2023 and could rise another 7 percent this year.
This meta-analysis compiles data and public statements from private companies, universities, national labs and government agencies to estimate how much these provisions will lower energy bills for consumers. It also explains how the technology-neutral credits hold down prices for consumers.