The upcoming EIC Connect Energy USA takes place in an encouraging year. The introduction of the US$369bn Inflation Reduction Act was a watershed moment for renewable energy in the US and boosted the competitiveness of the American clean energy sector. The tax incentives extended not only to wind and solar projects but also to hydrogen, CCS and nuclear developments have placed the country at the forefront of clean energy development. The oil and gas sector, meanwhile, has received reassuring signs from the Biden administration as BOEM oil and gas leases resumed and drilling permits are approved. Opportunities in the US energy sector are indeed plentiful: EICDataStream is tracking more than 1,650 projects across all sectors, with a CAPEX exceeding US$1.5 trillion.

Over the last year, the US has further consolidated its leading role among clean energy players, with over US$695bn of CAPEX associated with renewable energy, hydrogen, CCS and energy storage projects. The offshore wind market is a highlight, with a string of new projects being announced in the wake of new offshore wind solicitation rounds and BOEM lease sales in the East and West coasts. Emerging markets such as clean hydrogen and carbon capture and storage (CCS) are also noteworthy: the two sectors saw 39 large-scale projects announced in 2022, with a CAPEX of approximately US$20 billion.