Global renewable investment in 2022 reaches half-year record of US$226 billion, China leading the way

Facebook
Twitter
LinkedIn
Reddit
Email
China invested US$41 billion in H1 2022, up 173% from the year before. Image: ReneSolar.

Global investment in renewable energy reached a record half-year figure of US$226 billion in H1 2022, driven by soaring demand for clean energy technologies amid the ongoing energy and climate crisis, according to a BloombergNEF (BNEF) report.

The Renewable Energy Investment Tracker 2H 2022 report, which covers both project investments and corporate fundraising, revealed that investment in new solar projects rose to a record-breaking US$120 billion in H1 2022, up 33% from H1 2021.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

The surge was driven by increased investment in renewable energy projects, venture capital and private equity funding, BNEF said.

Despite ongoing supply chain and geopolitical issues, BNEF said “investor appetite is stronger than ever”, which it put partly down to the extremely high energy prices currently being seen in most global markets.

“Policy makers are increasingly recognising that renewable energy is the key to unlocking energy security goals and reducing dependence on volatile energy commodities,” said Albert Cheung, head of analysis at BloombergNEF.

“Despite the headwinds presented by ongoing cost inflation and supply chain challenges, demand for clean energy sources has never been higher, and we expect that the global energy crisis will continue to act as an accelerant for the clean energy transition.”

Source: BNEF.

H1 also saw an all-time record for venture capital and private equity investments into renewables and energy storage, with US$9.6 billion raised, which was up 63% on the previous year.  

One category that saw falling investment, however, was public equity issuances. After a strong H1 2021, public market issuances for renewable energy companies dropped 65% in H1 2022, accounting for US$10.5 billion. While the Q2 figure, at US$3.9 billion, is the lowest quarterly total since Q2 2020.

As expected, China led the way and posted huge investment growth in both wind and solar project finance, with the country’s large-scale solar investments totalling US$41 billion in H1 2022, up 173% from the year before. 

The U.S emerged as the second-largest solar market investing US$7.5 billion, followed by Japan at US$3.9 billion.

Nannan Kou, BNEF’s head of China analysis, said: “Green infrastructure is the most important investment area that China is relying on to boost its weak economy in the second half of 2022.”

“The investment growth trend follows China’s strategy to build new renewable generation capacity so that it can replace its existing coal fleet. China is well on track to hit its 1.2TW wind and solar capacity target by 2030.”

25 November 2025
Warsaw, Poland
Large Scale Solar Central and Eastern Europe continues to be the place to leverage a network that has been made over more than 10 years, to build critical partnerships to develop solar projects throughout the region.
10 March 2026
Frankfurt, Germany
The conference will gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing out to 2030 and beyond.

Read Next

October 6, 2025
US utility AES Corporation is reportedly in discussions to be acquired by Global Infrastructure Partners (GIP), a subsidiary of global asset owning giant BlackRock.
October 3, 2025
SunStrong Management has raised US$900 million to refinance a 'large portfolio' of residential solar assets developed by SunPower.
October 3, 2025
Chinese government policies and supply-side production cuts will drive a significant increase in solar and storage component costs.
October 1, 2025
Fortis Energy has secured a construction permit for a 270MW PV plant combined with a 72MWh battery energy storage system in Serbia.
October 1, 2025
Engie Australia's 250MW Goorambat East Solar Farm has registered with AEMO, marking the project’s readiness for the commissioning phase.
September 30, 2025
Chinese solar firm SoleFiori (Hongjun New Energy) has signed an agreement with the Saudi Arabian government to build a 6GW heterojunction technology (HJT) module production facility in the country.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 7, 2025
Manila, Philippines
Solar Media Events
October 7, 2025
San Francisco Bay Area, USA
Solar Media Events
October 21, 2025
New York, USA
Solar Media Events
November 25, 2025
Warsaw, Poland