Insight
Webinar North America Power Markets recording: A longer, more expensive, and politically contentious energy transition
Report summary
Despite the Inflation Reduction Act maintaining federal tax credits through at least 2050, headwinds are building around three areas: costs, interconnection bottlenecks and market design. We now envision a slower pace of deployment of zero-carbon generation, although we do expect policy reforms to still enable future growth. As a result, an increasing power price trajectory is more pronounced in this outlook. Additionally, REC prices are expected to stay higher for longer due to higher renewable costs and interconnection issues. Capacity prices must also rise to cover the additional cost of new capacity in the medium and long-term.
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