ING Groep (ING Bank) stated on Tuesday that regardless of the next president, the United States' energy transition is expected to continue, but companies will need to pay attention to the easing of regulations and incentives.

ESG analyst Coco Zhang and Chief International Economist James Knightley stated in a report that historically, the United States has shown policy inconsistencies in elections, with a recent example being the Biden administration overturning former President Donald Trump's energy and climate policies, and passing the landmark Inflation Reduction Act (IRA) to strengthen regulations on certain economic activities and require reporting of climate data.

They said that Kamala Harris becoming the Democratic nominee recently may bring market turmoil to the domestic clean energy market in the United States.

However, Zhang and Knightley mentioned that regardless of the president, the IRA is unlikely to be repealed and will continue to be a key legislation to promote clean energy development in the United States, stimulating $200 billion in clean energy investments.

They stated that key priorities for Harris and Trump would be domestic production of crucial technologies and strengthening mineral supply chains, while streamlining energy project permitting processes would receive bipartisan support.

However, Trump may expand incentives for electric cars and clean energy loan programs, while hydrogen and Carbon Capture and Storage (CCS) will not be greatly affected. The report mentioned that under the leadership of the Trump administration, efforts towards modernizing the grid will weaken, while renewable energy is expected to continue receiving tax credits.

Meanwhile, Zhang said in an accompanying statement that Harris is expected to move her position to the center area. The analyst said, "She may retain the Biden administration's most important climate legacy, emphasizing more effective implementation of the IRA. Harris hopes to strengthen environmental regulation, but her ability to do so will be limited."

During Harris's failed 2020 presidential campaign, she proposed spending $10 trillion to decarbonize the US economy, imposing a carbon tax, and banning hydraulic fracturing. However, this time, she is strategically silent on her energy and climate platform.

For investors who want to track the elections through market instruments, here are some politically motivated Republican and Democratic exchange-traded funds: God Bless America ETF (YALL.US), American Conservative Values ETF (ACVF.US).

Point Bridge America First ETF (MAGA.US), Democratic Large Cap Core ETF (DEMZ.US), Unusual Whales Subversive Democratic ETF (NANC.US), Unusual Whales Subversive Republican ETF (KRUZ.US), Energy ETFs: (XLE.US), (AMLP.US), (VDE.US), (XOP.US), (OIH.US), and (IXC.US); Green Energy ETFs: (ICLN.US), (TAN.US), (FAN.US), (GRID.US), (QCLN.US), and (ERTH.US).