| Work Detail |
Wood Mackenzie report explores progress on renewable energy targets and implications of Trump 2.0. According to a report by Wood Mackenzie, net emissions from the North American electricity sector will decline by 20% by 2030 compared to 2024 levels. Starting in 2030, transportation electrification will accelerate emissions reductions across North America, according to the Energy Transition Outlook 2024-25. Americas report. However, the report also notes that North Americas energy transition could be slowed by rising trade tariffs, infrastructure delays and political uncertainty for emerging technologies. The report analyses progress towards renewable energy targets. It presents four energy transition scenarios in North America, as well as regional updates by country. The Republican administration that emerged in the 2024 US election cycle is poised to pivot US energy policy away from net zero, Wood Mackenzie said. However, President Trump’s agenda for US energy will face hurdles, including Republican support for the Inflation Reduction Act (IRA) in Congress, the competitive economics of renewable energy and private sector net zero targets. The IRA has supported more than $220 billion in manufacturing investments, much of which has been concentrated in Republican-led states. “With a significant push for low-carbon investment, the impact of the election will vary by sector, raw material, and technology,” the report notes. With Republican majorities in Congress, the US under a second Trump administration has its best chance in decades to pass infrastructure reform, Wood Mackenzie said. Along with permitting reform, the report said policies incentivizing cost sharing and hybrid portfolios of wind, solar and energy storage must be expanded to put the region on a path to net-zero energy. |
