renewables PM market analysis — 2026-10-26

Renewables are showing a split picture this session. In the United States, cancellations and downsized clean-energy projects are now running ahead of newly tracked investment, a reversal that points to mounting policy, permitting, and execution risk rather than any loss of underlying demand.

That strain sits alongside continued capital flowing into solar and storage, which remain the most active segments even as incentive changes and approval delays leave the development pipeline uneven. The contrast suggests investors are becoming more selective about which U.S. projects can realistically reach construction, not retreating from the sector outright.

Globally, the picture is steadier. Renewables continue to take a larger share of power generation, and the emphasis is shifting toward grid modernisation and flexibility as the binding constraint on further growth. For this sector, the near-term signal is domestic policy friction in the U.S. set against a more resilient global deployment trend.