The report pointed to the massive spending bill Trump signed in July, which it claims is "driving up utility costs and destroying jobs by removing cheaper, cleaner energy sources from the grid, all while funding new tax breaks for the oil and gas industries."

Projects that were canceled or delayed since Trump’s election have led to a loss of 24,958.5 megawatts of planned energy generation, which could have powered more than 13.17 million homes, according to the report.

Prices are expected to spike even further, especially as rising energy demands are driven by data centers and extreme heat, the study said.