The issue isn't electricity, it's energy. How do you run your first ironworks without coal? You can't really exploit hydro for electricity without industrialization, and you can't really have an industrial revolution without coal.
Your industrial output will be limited, but there's plenty of land and forests grow by themselves.
Critically, you can move wood long distances so running out locally isn’t an major issue as long as you don’t run out globally.
A large fraction of the early/mid Industrial Revolution was powered by hydro/wood. Abundant rainfall is why so much industry ended up in the north eastern US and England. Efficient motors was more a result of a scientific and industrial innovation rather than the cause of such.
So suggesting Ironworks as a major obstacle doesn’t really stand up.
Additionally, coal wasn’t even used for making steel in the US basically at all until 1827 (charcoal has fewer impurities like the sulfur found in a lot of early coke). The US primarily used charcoal from wood even for iron production until well into the mid 1800s (and by 1884, charcoal was still used for 10% of iron and steel production in the US, and charcoal was still used in some niche areas even into the 1940s). And steam locomotives in the US were also often powered by wood in the 1800s.