Global investment in renewable energy projects reached a record $386 billion during the first half of 2025, up 10% compared with the same period in 2024, according to BloombergNEF’s (BNEF) latest Renewable Energy Investment Tracker.
The record was driven by small-scale solar and offshore wind, though financing for utility-scale solar and onshore wind declined.
Asset finance for large solar and wind projects fell 13% from the first half of 2024, marking the lowest share of total investment since 2006.
Utility-scale solar was particularly affected, with investment falling 19%.
Markets such as mainland China, Spain, Greece and Brazil recorded steep declines due to rising curtailment and negative power prices, raising revenue concerns for investors. Stronger investor appetite was seen in regions offering government auctions or stable corporate demand.
In contrast, small-scale solar surged, especially in mainland China, where investment nearly doubled year-on-year as developers accelerated projects ahead of regulatory changes exposing renewables to volatile power prices.
Offshore wind also posted a strong performance, attracting $39 billion in the first half of 2025, already surpassing 2024’s full-year total.
“Renewable energy investors and developers are rethinking capital allocation and putting their money where project returns are strongest,” said Meredith Annex, Head of Clean Power at BNEF.
“The decline in utility-scale solar and onshore wind financing during the first half of 2025 is taking a toll on project pipelines and likely will continue to do so.”
The United States saw the steepest regional drop, with investment down 36% from late 2024, reflecting post-election policy uncertainty, slowing wind development and tariff risks.
Meanwhile, the EU-27 posted a $30 billion (63%) rise in investment compared with the second half of 2024, as capital shifted from the US into European offshore wind projects.
Emerging markets largely held steady after rapid 2024 growth, with Southeast Asia investment up 7% and Latin America expanding its regional share.
Mainland China maintained its dominance, accounting for 44% of global investment in the first half of the year.
Global renewable energy investment reaches record $386 billion appeared first on Energy Live News.