Affordability continues to be a concern both in California and nationwide, despite Trump calling it a fake issue. Fortunately, investments in clean energy and other climate solutions are investments in affordability!
Numerous studies point to climate-fueled extreme weather as a driver of rising consumer costs, especially for food. In fact, U.S. food prices are up 19 percent since 2022. A new study finds that, since 2000, climate change has raised prices and eroded buying power in the United States by around 12 percent. Crop failures and infrastructure damage from severe heatwaves, droughts, wildfires, hurricanes, and floods are taking a financial toll.
Last fall, Governor Newsom signed into law our co-sponsored bill, SB 279 (McNerney). Improving soil health through compost application is key to making agriculture more resilient to growing extremes. With a projected $2.9 billion budget shortfall, the state needs to secure ongoing investment in regenerative agriculture and other nature-based climate solutions. Consistent state funding would help farmers and ranchers avoid catastrophic losses that drive up food prices.
Rising electricity rates also continue to be a problem, especially in California. Corporate utilities are undergrounding wires to address climate-fueled wildfire risk, an expensive approach that guarantees them profits while driving up costs for ratepayers. Shockingly, California law now shields utilities from paying for wildfire damages sparked by their equipment.
Last year, the California state legislature overwhelmingly passed our co-sponsored virtual power plant bill, AB 740 (Harabedian). Virtual power plants have the potential to reduce ratepayer electricity costs to the tune of $13.7 billion by 2030 — using cost-effective and decentralized technologies like rooftop solar and batteries. Governor Newsom vetoed the bill.
Working together, we will help ensure that Governor Newsom sets an example for the nation by making 2026 the year of affordability through climate solutions! Join me in urging him to accelerate local, clean energy, phase out fossil fuels, and support nature-based climate solutions by taking action today.
This blog first appeared in The Climate Center’s bi-weekly newsletter. To keep up with the latest climate news and ways to take action for a climate-safe future, subscribe today!
