ACORE

4 BUSINESS VIEW MAGAZINE VOLUME 10, ISSUE 11 “Thanks largely to the certainty provided by the IRA,” he adds, “we have never had more momentum. America has never been a more attractive venue for renewable energy investment than it is today. We released a survey in June on the expectations for renewable energy finance, and for the first time in the six years we’ve conducted investor surveys, investors were unanimous about their expectations for the U.S. market increasing in attractiveness compared to other leading countries.” As Wetstone points out, an impressive 84 percent of surveyed investors plan to increase their renewable energy investment in the United States by five percent or more just this year alone. What’s more, reflecting a new trend that would have been inconceivable before the enactment of the IRA, some 38 percent of investors now plan to invest in clean energy manufacturing facilities here in America, Wetstone elaborates. “We project that investments in renewable generation and enabling technologies will accelerate from the current $50 to $60 billion annually to $90 to $100 billion annually,” he says, “which is more in line with our national climate goals.” Yet despite the remarkably positive outlook for renewable investment in the United States, persistent challenges could impede the momentum for clean energy growth. Supply chain constraints, trade restrictions, interconnection queue delays, and insufficient transmission capacity are significant headwinds identified in the survey as leading to delays in deal flow, longer lead times, and increased project costs, and this is where ACORE is focusing its attention as an organization, as Wetstone points out. “To realize the IRA’s full potential,” he says, “we must resolve these challenges. It is more important than ever that these obstacles are