America is at a crossroads. The economic and global energy landscape is shifting rapidly and we must decide whether we will lead or lag in the clean energy transition. While China and India surge ahead in clean energy investments and storage advancements, some in Washington want to take us back to t he mid-1970s — a time when energy policy was dictated by outdated assumptions and fossil fuel dependence. This is not just about climate change; it’s about maintaining our economic and geopolitical edge in a world increasingly powered by clean energy. For decades, Colorado has been a leader in the clean energy transition, proving that smart policy can drive economic growth. As governor, I signed over 50 pieces of legislation related to clean energy and climate. Under the leadership of Governors John Hickenlooper and Jared Polis, our state has continued to embrace wind, solar, storage, and emerging technologies like geothermal. The result? Lower energy costs, greater energy independence, and thousands of good-paying jobs. This is the model for the rest of the country, but the progress we’ve made is now at risk. President Donald Trump and his allies are attempting to dismantle the Inflation Reduction Act (IRA), a move that would undermine America’s clean energy advantage. The IRA has been instrumental in attracting more than $129 billion in clean energy factory investments since its passage in 2022, with over 80% of these projects planned for Republican-led congressional districts. Rolling back these incentives would not only harm our national economy but disproportionately impact those very districts that have the most to gain from clean energy job growth and lower electric bills. The argument for clean energy is simple: economics. According to Lazard’s 2023 analysis of the unsubsidized levelized cost of electricity (LCOE), both onshore wind and utility-scale solar are now cheaper than coal and competitive with natural gas. This has been the case for wind energy since 2015. Trump’s proposed tariffs on imported steel, however, threaten to drive up costs for the wind industry, further hampering U.S. competitiveness. Meanwhile, energy demand is increasing. Xcel Energy put forward a proposal for the Colorado Public Utilities Commission to add 14 gigawatts of additional generation. The PUC will ultimately decide that number for Xcel but as everything becomes electrified, we need to figure out how to meet that demand efficiently and equitably. Investing in new clean energy solutions is supported by the IRA and it is designed to ensure that these investments continue by converting the investment and production tax credits into a long-term clean energy tax credit starting in 2026. This means not only wind and solar but also geothermal, nuclear, and energy storage will benefit. But, uncertainty around federal funding is creating unnecessary barriers. The Colorado Energy Office has highlighted the great uncertainty states are facing, with funds obligated but not set. For example, National Electric Vehicle Infrastructure (NEVI) funds had all approvals removed by this administration, meaning states like Colorado, which was initially obligated $44 million, have seen that drop to just $8 million. So, EV charging infrastructure is now in question, leaving states scrambling for solutions. Similarly, USDA grants for rural cooperatives transitioning to clean energy — such as those for Tri-State, CORE electric cooperative and other cooperatives — remain frozen, resulting in a potential loss of a billion dollars. The biggest cost burden, however, comes from the potential removal of tax credits. Production, investment, and advanced energy tax credits are essential in keeping electricity costs down for Colorado consumers. Utilities like Xcel and Tri-State had already made commitments relying on these credits. If eliminated, the cost of electricity for Coloradans will undoubtedly rise. Related Articles Opinion Columnists | Letters: Don’t come after Tesla cars, owners or staff Opinion Columnists | Despite near-normal snowpack, key Colorado River reservoir is expected to see lower spring flows Opinion Columnists | EPA plans to eliminate scientific research team, could fire more than 1,000 employees Opinion Columnists | Suncor plans to take down a 100-foot flare stack in project to upgrade Commerce City refinery Opinion Columnists | EPA head says he’ll roll back dozens of environmental regulations, including rules on climate change Even oil and gas executives are warning against gutting the IRA. Occidental Petroleum CEO Vicki Hollub directly urged Trump to maintain tax credits that support carbon capture and direct air capture technology. ExxonMobil, Phillips 66, and Chevron have also stressed the importance of these provisions for their investments in low-carbon technologies. If major oil companies recognize the value of these incentives, why would we throw them away? Colorado can continue leading on clean energy, but without federal alignment, our progress will be slower and more expensive. When states and the federal government work together, we can achieve a more reliable, affordable, and sustainable energy system. As General George S. Patton famously said, “Lead, follow, or get out of the way.” The U.S. has been leading the global energy transition, but if we roll back the IRA, we will be ceding that leadership to China and India. We cannot power a 21st-century economy with 1970s energy policy. The path forward is clear: double down on our clean energy advantage, invest in wind, solar, storage, and emerging technologies, and maintain the market-based incentives that are driving innovation, job creation, and lower electric bills. Our economic future depends on it. Bill Ritter, Jr was Colorado’s 41st Governor and is a partner at Freestone Strategies, LLC in Denver. Sign up for Sound Off to get a weekly roundup of our columns, editorials and more. To send a letter to the editor about this article, submit online or check out our guidelines for how to submit by email or mail. ...read more read less