Once the Obama administration limits CO2 emissions from current power plants, what will happen to your electric bill? If those in charge make accurate and smart decisions, new reports have indicated that many Americans can significantly save electric energy and see a major reduction in their monthly bill.
Based on a study released in May of 2014 by the United States Chamber of Commerce, Republican lawmakers said that American residents will not save electricity, but that their bills will increase under the new plan, known as Clean Power. This report was discredited, but those that oppose Obama will continue to reference it.
According to a new report from Synapse Energy Economics (a private consulting firm that does not have a financial interest in the final results), it indicates that state compliance in combination with the initiatives regarding renewable energy could save the average American big bucks when it comes to their electric energy bills.
Early action is the key to this plan working effectively. Each state will be able to see huge savings (to the tune of 40 billion dollars saved nationwide by the year 2030). But residents living in states that build renewable resources the earliest will benefit the greatest.
The report continued to states if two thirds of electric energy consumers participate in this new program, then a $35 monthly reduction will be common in households. Basically, this means that the average household electric energy bill will be under $100 a month.
Remember, that the $35 estimated figure is an average from all the states in the United States. The new Clean Power Plan will have to be implemented according to state, since the price of electric energy varies greatly across the U.S. Residents for North Dakota, for instance, could see electric savings of more than $90 a month.