Thousands of New Jersey residents experienced shock after opening electric bills this summer. Some households saw a three- or four-fold increase from last summer. Imagine going from $100 in June of 2023 to $450 a year later, or from $200 to $890.

Blaming these exorbitant rates on what might be deemed unusually hot weather is not going to cut it. A few extra degrees on the thermometer for several consecutive days will not quadruple an energy bill.

New Jersey has aggressively pursued an accelerated Renewable Portfolio Standard (RPS), increasing the amount of wind and solar the state is required to utilize and pushing up the dates for which deadlines are to be met. Incidentally, most states with a similarly bold RPS or other green energy initiatives have faced identical consequences.

California, notoriously known for its zealous climate goals, has inflicted at least 11 electricity price increases in just the last five years alone. San Diego area residents have seen an astounding 78 percent price surge on their bills in the last decade. Everyone living in the Golden State has even been asked to conserve energy and only consume it during certain hours.

New York openly admitted that their sweeping 2019 law mandating 70 percent renewable energy generation by 2030 would increase rates. Residents have and will continue to subsidize solar and wind projects, electric vehicle (EV) chargers, heat pumps, and other projects. Some experts anticipate upwards of 64 percent increases, or more.

Read the full article here.

Kristen Walker is a policy analyst for the American Consumer Institute, a nonprofit education and research organization. For more information about the Institute, visit www.theamericanconsumer.org or follow us on Twitter @ConsumerPal.

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