Let’s Back Up: What’s the Bill?

The legislation known as the “One Big Beautiful Bill” (H.R. 1), has now passed both the House and Senate and has been signed into law. Its impact on climate and clean energy programs is anticipated to increase oil and gas production, coupled with a rapid phase-out of many important tax credits that were driving decarbonization as well as job creation.

Key Takeaways

This new legislation presents a mixed bag, with some potential benefits alongside significant challenges for the clean energy sector.

The Good

• Renewable Energy Revenue Sharing: Establishes that counties would receive 25% of revenue from wind and solar energy produced on federal lands, mirroring oil and gas revenue-sharing models.

The Bad

• Increased Energy Costs: This bill is projected to increase Americans’ energy costs – raising electricity prices 7-10% and ratepayer bills by $110-$400/year on average for homes and businesses.

• Job Losses & Investment Threats: The bill is estimated to eliminate over 900,000 energy and manufacturing jobs and threatens over $500 billion in investment in the U.S.

• Undermined Grid Reliability: At a time of rapid load growth, the bill is expected to reduce energy capacity additions installed on the grid by 50% over the next 10 years.

• Rapid Phase-Out of Tax Credits: The bill accelerates the expiration and phasing out of many important clean energy tax credits established by the Inflation Reduction Act of 2022 (IRA), impacting solar, wind, electric vehicles, and other decarbonization efforts.

• Increased Fossil Fuel Production: The legislation supports increased oil and gas production and makes changes that favor fossil fuel development over clean energy.

Additional Resources

MEA’s Official Public Statement: News Detail

Norton Rose Fulbright: Effects Of “One Big Beautiful Bill” On Projects: Effects Of “One Big Beautiful Bill” On Projects | Norton Rose Fulbright – July 2025

Advanced Energy United: Navigating What’s Next for Advanced Energy

S2 Strategies: What Now? The Fierce Urgency of “Commence Construction” — s2strategies on behalf of U.S. Green Bank 50 (GB 50)

S2 Strategies: Reconciliation State Impacts

Despite these federal shifts and their potential consequences, MCEC remains unwavering in our commitment to advancing clean energy in Maryland. We will continue to advocate for policies that foster a clean energy economy, create high-quality jobs, and ensure affordable, reliable power for every Marylander.