Cleantech Growth in the US Amidst Political Uncertainty
Key Ideas
  • Rystad Energy analysis predicts strong growth for cleantech and renewable energy sectors in the US regardless of the election outcome, with states like Oklahoma, Iowa, Florida, and Texas playing a significant role.
  • Investments in manufacturing and infrastructure in these states are leading to job creation, highlighting the economic benefits of cleantech industries.
  • The bipartisan support for cleantech projects, including solar, batteries, hydrogen, and carbon capture, is driving economic momentum and ensuring continued expansion under potentially different political administrations.
  • While more onshore wind capacity was added during President Trump's term, the wind industry's growth may be influenced more by economic factors like interest rates than by political changes in the presidency.
Rystad Energy's analysis forecasts a promising future for the cleantech and renewable energy sectors in the United States, emphasizing that these industries will thrive irrespective of the outcome of the US presidential election. By 2030, states like Oklahoma, Iowa, Florida, and Texas are projected to be key players, accounting for a significant portion of battery cell manufacturing capacity, solar PV cell and module production, hydrogen production capacity, and carbon capture capacity. The substantial investments in manufacturing and infrastructure in these states are leading to a surge in job creation, showcasing the positive economic impact of cleantech. The bipartisan support for cleantech projects is highlighted, with a focus on economic benefits driving widespread backing for these initiatives. Rystad Energy points out that more onshore wind capacity was added during President Trump's term, suggesting that economic factors like interest rates may have a greater influence on the wind industry's growth. Overall, the analysis underscores the transformative impact of cleantech on infrastructure and employment, indicating a positive outlook for the industry's continued expansion regardless of political changes.
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