One of the main competitors in the genset road switcher market, Railpower is more well known for its Green Goat line of hybrid locomotives. The bulk of Railpower's genset production is made up by a 98-unit order of their RP20BD model for Union Pacific, the largest genset order placed to date for any manufacturer. The RP20BD has three 667-hp Deutz TCD2015 V-8 diesel engines, for a total of 2,000 horsepower. Like other genset locomotives, the RP20BD achieves part of its fuel savings and efficiency by turning engines on as needed, and shutting them down when they aren't. By this method, Railpower claims the RP20 can achieve fuel savings of 20-35% over conventional models.

Railpower's locomotives are all built using the frames of retired locomotives as a starting point. Existing components are stripped off of the frame, trucks are rebuilt, and the new appliances are applied. In this way, Railpower is as much a recycler as a builder. Platforms for the RP20BD units include later EMD GP-series locomotives (GP35, GP38, etc.) and GE B-series units (B23-7, B30-7, etc.). The RP14BD is designed to use earlier EMD GP-series frames (GP9, etc) and larger SW-frames (SW1000, SW1500). The six axle platforms are designed for EMD's larger SD-series locomotive frames. Candidates for conversion include the SD38, SD40 and SD50 among others.

In addition to their entries in the genset market, Railpower is well known for its "Green Goat" line of hybrid switching locomotives. Those locomotives, which use a battery pack for most of their power, are also built on recycled frames. The Green Goats are offered in the 1,000 hp GG10B and more common 2,000 hp-rated GG20B. In addition, the company has built a 1,000 hp "Green Kid" on an SW-type frame. Railpower hasn't produced a hybrid since mid-2006.

In 2009, Railpower suffered through a bankruptcy that saw the company change hands and emerge under the ownership of the Kentucky-based RJ Corman Group. The reorganized entity is no longer a Canadian-owned business.