Senate Energy Subcommittee Hearing on Pathways to Lower Energy Prices
Rhodium partner John Larsen testified in a subcommittee hearing of the Senate Energy & Natural Resources Committee.
On July 13th, Rhodium Group partner John Larsen, head of our US energy & climate policy research, provided expert testimony in a US Senate Energy & Natural Resources subcommittee hearing. The purpose of the hearing was to examine pathways to lower energy prices in the United States.
In his testimony, John highlighted historical trends in household energy costs, how household energy costs have been affected this year and how they might change in the near-term, and steps that Congress can take to accelerate energy cost reductions while also bolstering US energy security and reducing greenhouse gas emissions. In particular, he highlighted how clean energy tax credits and other clean energy investments can serve as a strong foundation for cutting energy costs further and faster than market trends alone. Rhodium analysis has found that legislation like that under consideration in the Senate, coupled with new policy actions taken by executive agencies and states, can cut household energy costs by 12-14% on average in 2030 relative to current policy, while also putting US climate targets within reach.
You can watch a recording of the hearing here.