Energy Transition Industry Report – April 2024

Cascadia Capital’s Energy Transition & Climate Technology team is pleased to share with you our newest industry report focusing on the dynamic landscape of the evolving energy transition economy. We spotlight the recent trend of re-shoring or near-shoring renewable energy efforts and provide a comprehensive look into the forces behind this and the impacts of doing so. Within you will find industry insights and an overview of the landscape, as well as an update on notable M&A and capital raise activity in the sector.

Key Highlights:

  • China’s dominance of the global clean energy market, along with geopolitical complexities and supply chain constraints, has driven the US to onshore its renewable energy production
  • This shift is responsible for Energy Transition in the US to have grown tremendously over the past two years, driven by the announcement of government initiatives such as the Inflation Reduction Act (IRA), the Infrastructure Investment and Jobs Act (IIJA), and the Bipartisan Infrastructure Law (BIL)
    • In North America, the sector is expected to grow at a CAGR of 9.8% from $828B in 2023 to $1,749B by 2031, driven by increased investments, aforementioned legislative initiatives, and the expansion of multiple sub-sectors
  • Amid supply chain challenges, shortage of skilled labor, and high costs of setting up renewable energy plants, the energy transition sector is witnessing innovations, all aimed at enhancing the efficiency of renewable energy across the country
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