Clean energy rollbacks to cost US economy $55 billion annually

The report, authored by the nonprofit E2 and consulting firm BW Research, quantifies the fallout from the administration’s aggressive anti-renewable agenda. Beyond the multi-billion dollar hit to GDP, the policy shift has eliminated an estimated 470,000 potential jobs. This includes specialized labor in battery storage, solar infrastructure, and electric vehicle manufacturing. Furthermore, local governments face a $12 billion annual decline in tax revenue, stripping funds from essential public services like schools and infrastructure.

E2 executive director Bob Keefe described the federal actions as a direct assault on the nation’s economic health, noting that the administration is simultaneously rolling back tax credits and paying companies to cease development on existing leases. Former Washington Governor Jay Inslee went further, characterizing the policy as a “mugging” of the American public. He argued that the administration is forcing consumers to pay higher utility bills while redirecting taxpayer money to benefit political allies, even as demand for energy grows from sectors like data centers.