A new article up at www.nccivitas.org shows how North Carolina’s electricity bills have grown more than twice as fast as regional and national averages since passage of its renewable mandate. By contrast, in the years leading up to the mandate, NC’s rates rose far more slowly than national and regional averages.
The state’s renewable requirements creates a particularly harsh burden on North Carolina’s poorest households. Rising electric bills disproportionately harm low-income households who spend a larger share of their income on utility bills.
Moreover, rising energy costs impose a growing burden on businesses, causing them to cut back on job creation and wages. And as North Carolina’s electricity rates become more expensive relative to other states, our state becomes less attractive for business investment and job growth.