MUFG Global Markets Podcast

The US election energy transition playbook

The US presidential election will take place on 5 November and polls indicate a tight race. In this week’s podcast, Ehsan Khoman, Head of Research – Commodities, ESG and Emerging Markets (EMEA), examines the potential impacts on clean energy post US elections.

Ehsan believes the risk of wholesale repeals of the historic Inflation Reduction Act (IRA) to be low under a Trump 2.0 presidency (even in a Republican sweep scenario), given the significant amount of investments being made in states with greater elected Republican representation and a bipartisan preference for policies that incentivise domestic manufacturing (see here). Meanwhile, a Harris president may see a continuation of the Environmental Protection Agency’s (EPA) rules targeting reductions in emissions across sectors, with permitting and interconnection reform on the table that could open the door for an acceleration in clean energy development.

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