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Trump's Energy Policy Could Cost US 540 GW Of Renewables, Says NRDC
A Natural Resources Defense Council report projects that the U.S. could lose between 390 GW and 540 GW of new wind, solar, and energy storage capacity over the next decade under former President Trump's proposed energy policies. These lost projects would not be replaced by other new power sources, with only a minimal addition of gas capacity anticipated. Supply chain issues, volatile fuel prices, and the cost-competitiveness of renewables contribute to the low estimate for new gas investment. Global Energy Monitor indicates a significant increase in announced gas-fired capacity, but its actual realization remains uncertain due to supply and financing challenges. The NRDC acknowledges that renewables would still grow but at a much slower pace than projected with current policies. Developers needing firm power quickly are turning to less efficient and higher-emitting gas plants due to turbine backlogs. This trend supports the NRDC's argument against repealing EPA gas power plant emissions rules. The NRDC also forecasts increased power costs due to reliance on older, more expensive fossil fuel systems. Households could see electricity rates increase by an additional 4.2% to 5.5% nationwide by 2035.