Energy is at the forefront of every major conversation today, and for good reason. Reliable, affordable power is the backbone of our economy, our national security and our future. As policymakers consider changes to the Inflation Reduction Act, we urge them to take a careful, surgical approach. A whiplash policy environment that swings between support and uncertainty makes long-term capital planning nearly impossible. If we want to maintain our leadership in the global energy race, we need consistency.
Utah has long embraced an “all-of-the-above” energy strategy. We know that meeting our state’s growing demand for power requires a strategic combination of coal, natural gas, nuclear, geothermal, solar, wind, energy storage and carbon capture — all technologies we’re blessed with here in Utah. And we need them all. However, to make this diverse energy mix feasible, businesses must have a predictable policy environment that allows them to plan and invest with confidence. The Inflation Reduction Act, while not perfect, has provided that. Rolling back its energy provisions would introduce unnecessary uncertainty, putting billions in private investment at risk in Utah alone.
Artificial intelligence that supports national security, data centers and onshore manufacturing is driving an unprecedented surge in electricity demand. The ability to quickly deploy new energy capacity is critical. Flexible energy sources like solar and wind, paired with energy storage, allow us to rapidly add much-needed reliable power to the grid. As a state and a country, we cannot afford to fall behind. Globally, China and other economic competitors are moving aggressively to secure their energy futures. If we fail to provide a stable business environment for energy investment, we risk losing ground in this high-stakes competition.
Perhaps nowhere is the impact of the Inflation Reduction Act felt more deeply than in rural Utah. Counties that have produced energy for generations attract billions in private investment, revitalize local economies and create jobs.
World-class institutions now have their eyes on our state’s energy potential, something few would have predicted just a decade ago. In Iron, Emery, Carbon and Beaver counties and beyond, clean energy investments are proving that economic growth and Utah’s core values go hand in hand.
Landowners are securing long-term stability by leasing their land for energy projects, diversifying their income, preserving their heritage and creating a lasting financial legacy for future generations.
Local businesses are seeing new opportunities and growth that would not exist without these large-scale energy infrastructure investments. Take Bodec Electric, a high-voltage electric company based in Price, which has deep regional roots that began in coal, transitioned to natural gas and now supports clean energy projects across the region. Or TSJ Construction, a general contractor from Cleveland, Utah, that is currently providing civil work on a solar project in eastern Utah, continuing a family legacy of building in Emery County. Or BHI, an electrical company that started with small projects in eastern Utah and has since expanded nationwide, driven by the investments in Utah’s energy future and the opportunities they have created. These businesses, and countless others, thrive when Utah provides a stable environment for energy investment.
The benefits that result from stable energy innovation, like good-paying jobs, business growth and local investment, depend on a predictable policy environment. Energy projects don’t happen overnight. Capital planning takes years, and an unpredictable, whiplash policy environment threatens to stall investments before they even begin. To keep businesses growing and Utah’s energy leadership strong, we must provide the certainty companies need to plan, build and operate.
Utah is in an era of prosperity, driven in part by its leadership in energy development. But we have a choice to make. We can maintain our leadership in energy innovation, business investment and job creation, or we can create unnecessary uncertainty that drives capital elsewhere. Let’s make the smart choice that makes sense for all Utahns. Let’s keep Utah competitive, strong and prosperous.