Key Takeaways:

Storage Remains a Bright Spot Amid Recovery Signals
After a weak 2023 for most clean energy sectors, storage is poised to continue leading in 2024, with renewables, bioenergy, and hydrogen potentially rebounding as policies mature and grid improvements take effect.

Policy Maturity Unlocks Delayed Benefits
The impact of major initiatives like the US Inflation Reduction Act and the EU’s Fit for 55 package will be more tangibly felt in 2024, especially in biofuels, hydrogen derivatives, and grid infrastructure acceleration.

Elections May Temper, But COP28 Sets Strong Direction
While geopolitical events—particularly elections in the US and EU—present downside risk to climate ambitions, COP28’s targets to triple renewables and double energy efficiency by 2030 offer strong macro support.

Grid Reforms Create a Smoother Path for Deployment
New connection rules across the UK, US, and EU—moving away from “first come, first served” models—are expected to reduce connection delays and drive faster deployment of ready-to-go renewable and storage projects.

Falling Interest Rates Could Reignite the Sector
With interest rates having peaked, anticipated cuts in the second half of 2024 could drive improved financial performance and investor sentiment across clean energy equities, especially in capital-intensive areas like solar and hydrogen.