North America Energy Transition - Sector and Companies Driving Development

North America Energy Transition - Sector and Companies Driving Development

Summary

Recent political changes, chiefly Donald Trump taking office for the second time in Q1 2025, have shaken the markets, and have had a significant impact on a range of energy transition technologies, particularly wind power, energy storage, and electric vehicles. This report will assess how recent tariffs will affect the region’s energy transition, as well as the development stage of a range of energy transition technologies, including renewables, energy storage, electric vehicles, renewable refineries, CCUS and hydrogen. It will also highlight who the current and future leaders are for each of these technologies, and which North American country stands out for active and upcoming capacity.

Recent political changes, chiefly Donald Trump taking office for the second time in Q1 2025, have shaken the markets, and have had a significant impact on a range of energy transition technologies, particularly wind power, energy storage, and electric vehicles, as the President issued a series of executive orders that prioritize fossil fuels over renewables. Key policies impacting the energy sector include the withdrawal from the Paris Agreement, restrictions on wind project leases, imposition of tariffs, and the termination of the electric vehicle mandate. This report will assess how these technologies will be impacted, especially in light of the recent tariffs, with a particular focus on the Chinese supply chain. Although Trump's policies are likely to slow the region's energy transition, renewable power capacity additions, particularly solar PV, will still enable North America to increase the share of renewable energy in its total power capacity mix from 41% in 2025 to an estimated 61% in 2035. Canada is expected to lead the region with a 72% renewable share in 2035, largely driven by its significant hydropower resources. Other technologies, including energy storage, electric vehicles, renewable fuels, CCUS, and hydrogen, will play pivotal roles in the region's energy transition.

Key Highlights

• Since taking office for the second time, US President Donald Trump has issued a series of executive orders that prioritize fossil fuels over renewables. Key policies impacting the energy sector include the withdrawal from the Paris Agreement, restrictions on wind project leases, imposition of tariffs, and the termination of the electric vehicle mandate.
• Although Trump's policies are likely to slow the region's energy transition, renewable power capacity additions, particularly solar PV, will still enable North America to increase the share of renewable energy in its total power capacity mix from 41% in 2025 to an estimated 61% in 2035. Canada is expected to lead the region with a 72% renewable share in 2035, largely driven by its significant hydropower resources.
• Other technologies, including energy storage, electric vehicles, renewable fuels, CCUS, and hydrogen, will play pivotal roles in the region's energy transition. However, these technologies are at varying stages of development and are subject to different levels of risk, especially in light of Trump's recent tariffs.

Scope

North American climate targets, CO2 emissions, Trump’s recent tariffs, renewable energy potential, leaders in renewable energy and energy storage, renewable energy policies, power consumption and demand, renewable power capacity and generation, decommissioning of thermal power, energy storage capacity, electric vehicle sales, upcoming renewable refineries, SAFs, CCUS outlook, upcoming CCS projects, hydrogen policies, upcoming hydrogen capacity by stage, type and end use.

Reasons to Buy

• Assess key changes the Trump administration has implemented to shift the US’ focus away from renewables and back to fossil fuel development and exports.
• Assess how the recent Trump tariffs will impact key energy transition technologies, and which countries have the US tariffs affected the most.
• Identify who the key players are in a range of energy transition technologies, in terms of owners, as well as equipment manufacturers and EPC providers.
• Identify the development stage and legislative framework the following energy transition technologies are currently in, amid geopolitical changes: renewables, energy storage, EVs, renewable fuels, CCUS, and hydrogen.