Energy policy shifts: navigating the One Big Beautiful Bill

The recent passage of the One Big Beautiful Bill Act (OBBBA) marks a seismic shift in US energy policy, fundamentally altering the trajectory for renewable energy, emerging technologies and upstream oil and gas sectors.

Our latest webinar – ‘Energy policy shifts: navigating the One Big Beautiful Bill’ – decoded what these changes mean for energy investors, developers and other stakeholders. Fill out the form on this page to watch the webinar replay and download the full accompanying slide deck, or read on for a teaser of just two of the key points from the webinar:

• Renewables face a new economic reality:The unwinding of the Inflation Reduction Act provisions creates significant policy uncertainty for wind and solar developers, though rising natural gas construction costs - now reaching $2,200-$2,800 per kilowatt - help maintain renewables' competitive position. With massive AI-driven electricity demand growth requiring 64 gigawatts of new large loads across major utilities, the renewables sector is pivoting from decarbonization-focused investments to capacity-driven growth. Despite challenges, Wood Mackenzie forecasts renewable installations will moderate from 50 to 40 gigawatts annually, with a likely rush of projects seeking safe harbour provisions over the next 12-24 months.
• Emerging technologies show mixed fortunes: While hydrogen faces dramatic timeline compression with tax credits expiring in 2027 versus the original 2032 deadline, nuclear and geothermal emerge as clear winners under the new policy framework. Nuclear benefits from continued long-term tax credit certainty and new master limited partnership eligibility, supported by strong corporate demand from tech giants like Amazon and Meta. Geothermal maintains favourable tax treatment through 2033, leveraging oil and gas industry expertise for technology transfer and workforce development.

Watch the full webinar replay

Don’t forget to fill out the form on this page to download the full webinar transcript and replay and access detailed analysis, expert Q&A and comprehensive market forecasts that will shape your energy investment strategy in this rapidly evolving landscape.