Mid-Year Review – Six Key Themes Dominating US Green Energy Market in 2024

The U.S. renewable energy sector had a solid first half of 2024, with increased transaction activity, innovative financing solutions, and greater regulatory clarity, following a groundbreaking 2023 when the Inflation Reduction Act (IRA) began to take effect after being passed in the summer of 2022.

But 2023 brought some significant challenges, including supply chain constraints stemming from the global pandemic. Higher costs from rising inflation, largely a result of the fossil fuel crisis, have affected all industries — and renewables have not been immune.

Renewable projects in particular have been hit hard in 2023, with companies signing long-term power purchase agreements based on assumptions that no longer hold true as global economic conditions have changed. That has led some developers and investors in the United States to try to restructure those agreements with varying degrees of success.

However, in times of uncertainty