By Joseph Tassone Jr.
As we enter a new year, one thing is clear: the One, Big Beautiful Bill has catalyzed a strategic acceleration in the energy industry. Six months since its passage, the narrative is no longer about uncertainty or slowdown, but about a focused push fueled by surging demand, rising power prices, and record capital deployment. Rather than simply reacting to policy, the industry is using this moment to move faster and smarter.
After initial uncertainty following OBBB, most developers have shifted from caution to conviction. With eligibility requirements and timelines now mostly clarified, we have seen a real push to bring projects in that can meet the incentive deadlines. Though the real driver of momentum is not compliance alone, but the demand for robust pipelines and long-term generation shaping development decisions.
While ESG goals in the U.S. have seen adjustments, the global context underscores that renewables remain a priority for companies with long-term market horizons. Across the Atlantic, Europe doubled down on renewables, with nearly 50% of the EU’s electricity demand in 2024 supplied by renewables. That momentum directly influences U.S. markets, as many U.S. developers and corporate power buyers are backed by European parent companies, investors, and capital providers who continue to prioritize long-term renewable investment.
Electricity price dynamics remain a powerful catalyst. In New York for instance, National Grid customers have seen electricity bills rise roughly 20-30% since pre-2020 levels, reinforcing the value of stable, long-term generation supported by renewables and storage. At the same time, AI and data center growth is reshaping electricity markets, with forecasts suggesting U.S. data center demand could double or even triple by the early 2030s – creating a durable foundation for clean power investment.
In response, many IPPs are pivoting strategically toward BESS, recognizing its long runway and critical role in grid stabilization. Storage is increasingly viewed as core infrastructure, valued for flexibility and reliability. And while the new FEOC requirements are more stringent, they have prompted adaptation, not retreat, with developers rethinking supply chains and compliance strategies. EV adoption is also reinforcing this trend, with EV’s now accounting for roughly 8 -10% of new U.S. vehicle sales and driving new charging demand and distribution upgrades.
On the downside, particularly for PV and wind, we have seen developers wrestle with permitting and incentive denials at the federal level, as the current administration continues to put up resistance to these types of projects. While this has posed an issue for later stage projects, developers and IPP’s continue to originate new projects – with the goal of capitalizing on the waning incentives and the understanding that by the time new projects reach NTP, there may very well be a new administration at the helm. While some level of increased risk persists, development has always been a game of calculated risk and the necessity for new projects outweighs it.
Capital markets are validating this momentum. Brookfield’s $20 billion Global Transition Fund II, Clean Capital’s hundreds of millions in committed capital, and Nexamp’s $520 million raise are not cautious wagers, they are bets on growth. While OBBB timelines have tightened capital deployment and cash flow schedules, the market is adapting. Necessity is the mother of invention, and developers who maintain an aggressive yet judicious approach, moving early, securing strong sites, and executing with discipline will be the ones who succeed. We are amid one of the greatest expansions of energy demand in our lifetimes
The onCORE Outlook
At onCORE, we see this moment as a transition from policy-driven urgency to opportunity-driven execution. Strong real estate, speed to site control, and intentional origination strategies will define the next phase of growth.At onCORE, we are working with developers and IPP’s across 20+ states to bring new projects in the door – with nearly 250 projects totaling nearly 2 GW originated on our clients’ behalf last year.
On the solar side, we are working closely with our clients in a sprint to bring projects in the door before federal incentives sunset. On the BESS side, as the premier BESS origination firm in the US since 2018, we are continuing to build our existing clients’ pipelines and working/consulting with many developers & IPP’s transitioning to BESS development as a result of the OBBB. We are also seeing continued growth in origination demand for EV, Datacenter and other energy project types.
After an initial step back following the bill, we have actually seen an acceleration in origination demand since the legislation was passed, as developers look to capitalize on never before seen energy demand now that legislative certainty exists in the industry once again.
Joe Tassone Jr. is the founder and a principal of onCORE Origination with 30 years of project development experience and an expert in renewable energy development. Visit www.oncoreorig.com for more information.