Many cited natural gas as a “bridge fuel” in the transition to more sustainable energy sources necessary to power AI, the growth of electrification and grid stabilization. While renewable energy has never been more cost-competitive for buyers, developers say that projects are more complicated because of a higher interest-rate environment than in years prior, uncertain access to tax credits and supply-chain disruptions. “When subsidies vanish and rates increase, projects can stall, which makes it difficult to plan, finance and scale,” said Daniel Eggers, Executive Vice President and Chief Financial Officer at Constellation Energy, which is the largest supplier of clean energy across the continental U.S., with generation assets including nuclear, wind, solar, natural gas and hydro.
Another executive from a clean energy producer pointed to potential solutions in partnerships between developers and large corporate buyers, which may help ensure stable cash flows for producers and generate steady income for investors.
Nuclear energy, meanwhile, is seen as promising but currently faces long runways for development, permitting hurdles and financial challenges. Panelists cited Plant Vogtle in Georgia, which came online in 2024, seven years late and at more than double the initial cost estimate,1 as an example of nuclear power’s cost overruns and schedule delays. “We need a combination of government support, customer involvement and some versions of risk capital,” to accelerate nuclear power production, Eggers said.
2. Growing Momentum of “Behind-the-Meter” Power
Traditionally, electricity flows from power plants through the grid and then into businesses or homes. But increasingly, companies (especially those with large energy demand), are considering bypassing the traditional grid model and installing power sources on site, referred to as “behind the meter.”
Across the U.S., companies are seeking off-grid power solutions. In Oklahoma, a bill signed into law on May 15, 2025, allows businesses to generate power on their own premises to alleviate pressure on the state’s electric grid.2 In Texas, some data centers and industrial companies are seeking off-grid power through agreements with power producers amid concerns over grid infrastructure strains.3
An executive from a clean energy producer said that co-location requires large investments and that investors need to shift their mindset to view energy infrastructure as a growth industry. Most investors still bucket energy infrastructure as low-growth and low-risk, which means that the capital available may not match the risk profile, speed or size required for off-grid energy projects.
Companies that have scaled through the venture phase may also struggle to access the next stage of financing from the private markets, said Vikram Raju, Head of Morgan Stanley Investment Management’s 1GT fund, which focuses on growth-stage equity investments in companies that can contribute materially to CO2 emissions avoidance. “There is still not enough growth capital,” Raju said. “To take a company to the next level, you need these types of capital providers to come in.” One possible solution he offered is for companies to consider licensing technologies to generate revenue earlier, which may attract investors looking for lower-risk, cash-generating businesses.
3. Carbon Capture’s Tech, Economics and Emerging Uses
Summit speakers pointed to carbon capture and sequestration technologies as an important element of decarbonization to help offset the surge in energy demand from AI and reshoring of manufacturing.
As the global economy strives to transition to clean energy, the demand for electricity and industrial power is growing rapidly, resulting in the need for fossil fuels, especially natural gas, to help meet growing power demand. Those relying on fossil fuels, specifically certain energy producers, are turning to large-scale carbon-capture technology as an emissions reduction strategy. Outside of traditional fossil fuel producers, companies producing alternative energy sources—such as blue hydrogen, which is produced using natural gas—are also deploying carbon capture to offset emissions.
Some panelists said that carbon-capture projects require subsidies like the U.S. Federal 45Q Tax Credit, which provides financial incentives for capturing and storing carbon dioxide. While the Inflation Reduction Act of 2022 significantly enhanced this credit, proposed legislative changes in 2025 have introduced uncertainty. Others pointed to the need for offtake agreements—in which a buyer such as a hyperscaler or power plant commits to pay for captured and stored CO2 over a defined period—to finance and scale carbon capture projects.
