The Wall Street Journal Editorial Board: “The Real Risk to the Electric Grid”
“The best way to make the grid reliable again is to let supply and demand work in energy markets without the distortions of mandates and subsidies. The GOP budget bill takes a step in that direction that should be welcomed.”
WASHINGTON, D.C. – As Democrats attack House Republicans for phasing out $500 billion in Green New Deal taxpayer-funded subsidies, energy experts and federal studies support the move, warning that continued reliance on green subsidies threatens to trigger prolonged blackouts, skyrocketing power bills, and a dangerously unstable electric grid.
The Biden-Harris Administration's reckless push for green energy mandates through the “Inflation Reduction Act” has distorted the power market, sidelined reliable baseload generation like gas and coal, and left the nation teetering on the edge of an energy crisis.
WORD ON THE STREET
Excerpts from the Wall Street Journal Editorial Board:
“The Energy Department projects potential power shortfalls in 2030, even if wind and solar projects currently under development are completed. Americans would lose power for an average of 34 days per year—55 days under stress conditions like heat waves.”
“Because subsidies cover more than 50% of project costs, wind and solar have become more profitable to build than reliable gas plants. This distortion forces coal and gas plants to shut down—even though they’re needed to keep the lights on.”
“Texas’s residential power prices have risen 40% over the last seven years. Renewables are crowding out baseload generation, but require backup from gas peaker plants and battery systems that cost three times as much.”
“The result: billions in federal handouts, longer wait times to connect new projects to the grid, and a market that punishes the very infrastructure we need to keep energy reliable and affordable.”
“The best way to make the grid reliable again is to let supply and demand work in energy markets without the distortions of mandates and subsidies. The GOP budget bill takes a step in that direction that should be welcomed.”
THE BOTTOM LINE
The One Big Beautiful Bill repeals hundreds of billions in wasteful green tax credits and restores market discipline to the energy sector, ending the federal government’s role in picking winners and losers.
The bill:
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Repeals $500 billion in unnecessary green energy tax credits.
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Ends taxpayer handouts that undermine energy reliability and drive up utility costs for working families.
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Unlocks American energy by cutting burdensome red tape and turbocharging resource development.
The One Big Beautiful Bill takes a major step toward restoring balance in America’s energy policy—lowering costs, improving reliability, and giving consumers more choice. It corrects the overreach of the Biden Administration by reinstating quarterly oil and gas lease sales, refilling the Strategic Petroleum Reserve to strengthen national security, and ending billions in taxpayer subsidies that distorted energy markets and favored politically connected industries. By unlocking domestic energy production and embracing an all-of-the-above strategy, the One Big Beautiful Bill is a critical step to unleash American energy and lower electricity bills for families nationwide.
