💰 Record investment of 2.1 trillion dollars in green energy

• Global investments in green energy increased by 11 percent to 2.1 trillion dollars during 2024.
• Electric vehicles and renewable energy account for the largest investments with 757 and 728 billion dollars respectively.
• In China 818 billion dollars was invested, which is more than the US, EU and UK combined.

Strong growth in established technology

Investments in green energy continue to grow according to a new report from BloombergNEF. In 2024, global investments reached 2.1 trillion dollars, an increase of 11 percent compared to the previous year.

Electric vehicles and related infrastructure accounted for the largest share with investments of 757 billion dollars. This includes passenger cars, commercial vehicles, charging infrastructure and fuel cell vehicles.

Renewable energy, which includes wind and solar power, biofuels and small-scale hydropower, followed closely behind with investments of 728 billion dollars. Power grids received 390 billion dollars in investments to expand and digitize infrastructure.

China dominates the market

China stands out as the largest market with investments of 818 billion dollars, an increase of 20 percent from 2023. This is more than the combined investments in the US (338 billion), EU (381 billion) and UK (65.3 billion).

While China's investments grew significantly, development stagnated in the US and decreased in both the EU and UK. India and Canada also showed growth with increases of 13 and 19 percent respectively.

Established technology attracts most capital

The mature sectors within green energy, such as renewable energy, energy storage, electric vehicles and power grids, accounted for the majority of investments with 1.93 trillion dollars. This represents an increase of 14.7 percent despite higher interest rates and expected lower consumption.

New technologies such as electric heating, hydrogen and carbon capture received a total of 155 billion dollars in investments, which was a decrease of 23 percent compared to the previous year.

Financing and debt

Climate tech companies raised 50.7 billion dollars in private and public capital during 2024. The US led with 17.9 billion dollars in new issues, followed by China with 9 billion dollars.

Total debt in green energy amounted to 1 trillion dollars, an increase of 3 percent compared to 2023. Corporate debt accounted for the largest share and increased by 5 percent, driven by interest rate cuts around the world.

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