Green Tech Investments Hit a Record $2.3 Trillion Last Year
Despite the surge, there are signs the energy transition isn’t gaining the momentum necessary to reach net-zero emissions.
A solar farm in China.
Photographer: Qilai Shen/BloombergGlobal investment in the energy transition grew by 8% to a record $2.3 trillion last year, according to BloombergNEF, defying fears that the shifting political landscape and economic uncertainty would halt the world’s clean energy progress. Yet there are signs that while investments are increasing, they’re not doing so fast enough to accelerate the energy transition at the speed needed.
About $1.2 trillion of that poured into renewable energy and power grids, both of which play a vital role in serving rising electricity demand from data centers, a new report published Monday found. Electrified transportation, which includes electric vehicles and charging infrastructure, also attracted $893 billion last year, thanks in large part to strong growth in Asia and Europe.