Grid Integration Software Is the Durable Moat

The White House 2026 Economic Report of the President confirms that at end-2024, over 80% of all generation projects in the interconnect queue were solar and storage, versus roughly 14% in 2014. The report frames this as a congestion problem: renewable and hybrid projects are smaller and more complex than conventional generation, require more advanced interconnect studies and costly grid upgrades, and the queue backlog means most projects ultimately don't get built. This is a structural constraint that sits above any single policy cycle — even if IRA credits are fully preserved, queue processing capacity is the binding bottleneck for new generation build-out. It strengthens the thesis that grid integration software and interconnect reform are durable investment themes regardless of the fate of production tax credits. Source