The renewable energy sector in the United States has had a robust first half of 2024. There has been increased transaction activity, innovative financing solutions and improved clarity on regulations. This comes off a pivotal 2023 as the Inflation Reduction Act (IRA) began to take effect after being passed in summer 2022.

2023 did, however, see some notable challenges, including supply-chain constraints stemming from the global pandemic. Higher costs due to rising inflation, largely the result of the fossil fuel crisis, affected industries across the board — with renewables not immune to this either.

Especially affected in 2023 were the renewable projects where companies had signed long-term power-purchase agreements based on assumptions no longer true as global economic conditions changed. This resulted in some developers and investors in the United States trying to restructure these contracts with varying degrees of success.

Yet, throughout periods of uncert