New Study Says Clean Energy Rollbacks Will Cost Economy $1.1 Trillion by 2035
In a week when the Trump administration moved forward on multiple fronts to repeal U.S. climate policies, a new analysis quantified the potential costs for public health, households and the economy—including a stunning $1.1 trillion reduction in U.S. gross domestic product by 2035.
The study by the University of Maryland’s Center for Global Sustainability found that any economic benefits to the policy retreat—which Environmental Protection Agency Lee Zeldin placed at $1.2 billion a year from the power plant regulatory rollback alone—would be overwhelmed by the negative effects of greater air pollution and contraction in new manufacturing and jobs associated with an energy transition.
“Overall, there are more GDP losses if we roll back clean energy policies,” said Alicia Zhao, research manager at the center and lead author of the report. “It means even if some of the states are getting gains from the fossil fuel industry, it’s being offset by the losses in clean energy benefits.”
The study came out as the Senate was crafting its version of Trump’s main legislative initiative—the so-called “One Big Beautiful Bill” that will extend and expand tax cuts while slashing government spending, including on incentives for clean energy. Although a group of Republican senators is pushing to keep some of the tax breaks for wind, solar, electric vehicles and battery technology, which overwhelmingly have benefited red states, the depth of their commitment is not clear—especially amid pressure from the president to pass the overall package before July 4.
(Inside Climate News)
- -
| 
