The clean energy sector has seen growing momentum around the creation of a federal transmission investment tax credit (ITC), driven by increasingly measurable impacts of climate change and the need to invest in a more resilient, majority-renewables grid.

The renewable energy industry is on track to deploy more than USD 1trn in capital investment by 2030. Wind, solar, and energy storage already set annual capacity addition records in 2020, with momentum building to meet the robust targets laid out by the Biden administration as part of the economy-wide Build Back Better plan to hit net-zero emissions by 2050.