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Energy Transition’s Half-Trillion-Dollar Year Is Even Better Than It Looks

The topline from BloombergNEF’s latest analysis of energy transition investment obscures some key trends.

Generating Power And Food At The Everyday Farm LLC Monnaran Solar Farm Project
Photographer: Taylor Weidman/Bloomberg

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Global investment in wind and solar power, biofuels, biomass and waste, small hydropower—the main technologies behind clean electricity—has expanded by nearly an order of magnitude since BloombergNEF first started tracking this data. In annual dollars terms, clean-energy investment surged from $33 billion nearly two decades ago to more than $300 billion last year. Growth in investment stopped in the mid-2010s.