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Investment in the global energy transition hit a new record and a major milestone in 2022. But there’s good news and bad news.
- Feb 6, 2023 9:30 pm GMT
BloombergNEF’s Energy Transition Investment Trends report has estimated that the total investment in renewable energy totaled $1.1 trillion in 2022. At $495 billion, solar, wind, biofuels and others accounted for a little less than half of the total and was 17% higher than in 2021.
At $466 billion EV- related investments was on par with renewables and registered a 54% year-over-year increase.
So what’s the bad news?
China accounted for $546 billion of the investment while the U.S. only invested $141 billion. Germany, France and the UK rounded out the top five.
The U.S. should set a goal to lead this market which means we need to start upping the ante.
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