WASHINGTON, Aug 26: President Donald Trump's fossil fuel agenda will result in the loss of $700 billion in clean energy investments over the next decade while doubling the power sector's climate footprint, according to analysis published Tuesday.
The report by the nonprofit Natural Resources Defense Council examined the cumulative impact of policies passed by Trump -- who campaigned on cutting utility bills in half within 18 months in office, though in reality they rose 16 percent as of May 2026, according to Energy Information Administration data.
These actions include the passage of the One Big Beautiful Bill Act in July 2025, which gutted tax credits on clean energy, and the global tariff war that has strained supply chains and raised the cost of electricity generation technologies as a whole.
Trump's policies have also focused on propping up the fossil fuel industry -- including forcing utilities to keep old, expensive fossil fuel plants beyond their planned retirement, and restarting or building new coal plants, while stalling federal permits for wind development.
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In all, Trump's agenda will result in $700 billion in lost investment between now and 2035, and the loss of between 390 to 540 gigawatts of new wind, solar and energy storage, the report found. By comparison, India's total installed capacity is currently around 520 gigawatts.
By 2035, US consumers will spend up to $30 billion a year more on electricity, with household bills increasing by up to 25 percent in some parts of the country.
"From day one of this term, the Trump administration has waged war on clean energy, destroying new investments, while owners of old, polluting coal plants get handouts and free passes to pollute," said Amanda Levin, director of policy analysis at NRDC.
"As a result, utility bills are on the rise, projects are cancelled, jobs are lost and more pollution is endangering the health of our families and the climate."
Titled "An Affordability Crisis of Trump's Making," the report used an energy model to compare the impact on the electricity sector of Trump's policies to those before he took office.
These included the planned repeal of power plant emission standards, tariffs, the end of tax credits for wind and solar, and permitting delays and cancellations.
Both scenarios included the rapid growth in demand for electricity driven by data centers.
The report found that power sector carbon dioxide emissions could be twice as high by 2035, up to more than a billion metric tons compared to just over 500 million metric tons in the counterfactual scenario.
More air pollution from older coal and gas plants running more will result in up to 69,000 additional early deaths and 85,000 extra emergency room visits and hospital admissions over the next decade, it found.
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