"If your homeowners' insurance premium has spiked, your electricity bill jumped, or wildfire smoke has enveloped your neighborhood, you've already felt the cost of climate change. A recent report from the National Bureau of Economic Research estimates that American families pay a climate bill of $400 to $900 per household annually. Living in a warmer world will be expensive. The study, " Who Bears the Burden of Climate Inaction? ", examines how extreme weather events increase costs across many household budget categories."
"Researchers found that the total cost to the nation ranges from $50 billion to $110 billion per year. Yet, in the 10 percent of U.S. counties where climate disasters have happened, costs already exceed $1,300 per household. These findings arrive as the nation debates the costs of climate action versus inaction. But they suggest that inaction has a price tag that's already hitting household budgets."
American families pay an estimated climate bill of $400 to $900 per household each year. National costs range from $50 billion to $110 billion annually. In the 10 percent of counties experiencing climate disasters, costs already exceed $1,300 per household. Insurance is the largest household climate expense, increasing premiums by $75 to $360 per household. Flood insurance averages $142 per household and can cost an extra $2,500 yearly in many places. Wildfire smoke has caused an estimated 35,000 deaths annually since the 2010s. In 2024, 21 percent of households reported financial impacts from natural disasters.
Read at Earth911
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