The Green Revolution Is Alive and Well — Just Not in the US
Global investment in renewable energy sources hit $386.5 billion in the first half of 2025 despite the pullback in the US.
Europe and the US have swapped places for green capital.
Photographer: Emilio Parra Doiztua/Bloomberg
Given the hostility of the US government to anything green and the daily drumbeat of headlines about canceled wind farms, tax breaks and environmental rules, you might mistakenly think clean energy is on its deathbed. In fact, by at least one measure, it’s healthier than ever.
Global investment in renewable energy sources hit $386.5 billion in the first half of 2025, according to BloombergNEF — the best six-month stretch on record, believe it or not. This happened despite a 36% decline in US investment compared with the second half of 2024, when investors scrambled for one last shot at Inflation Reduction Act tax breaks doomed by President Donald Trump’s return to office. As feared, Trump wasted no time in trying to eradicate clean energy root and branch, slashing not only incentives but also any regulations that might motivate switching from fossil fuels. For good measure, he also upended global supply chains and business models with a novel trade philosophy that could be described as “chimp with an AK-47.”