Investment in the global low-carbon energy transition grew 11% to reach $2.1tn in 2024, according to a report by BloombergNEF’s Energy Transition Investment Trends 2025.
Electrified transport, renewable energy and power grids were key drivers of this growth, despite its slower pace compared to previous years.
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Electrified transport led the investment surge, reaching $757bn in 2024: spending on passenger EVs, electric two and three-wheelers, commercial electric vehicles, public charging infrastructure and fuel cell vehicles.
Renewable energy investments hit $728bn, covering wind, solar, biofuels and other sources.
Investment in power grids totalled $390bn, focusing on transmission and distribution lines, substation equipment and grid digitalisation.
The report points out a gap between mature and emerging clean energy sectors, with established technologies such as renewables and electric vehicles receiving $1.93tn in investment.
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By GlobalDataEmerging technologies such as electrified heating, hydrogen and carbon capture, experienced a 23% decline in investment, amounting to $155bn.
Factors such as cost-effectiveness and technological maturity are limiting investment in these areas, necessitating both public and private initiatives to mitigate associated risks.
China emerged as the largest market for investment, reaching $818bn – a 20% increase from 2023.
China’s growth accounted for two-thirds of the global rise, with all sectors demonstrating strong growth.
The US, European Union and UK experienced stagnant or declining investments.
India and Canada contributed to global growth, increasing investments by 13% and 19%, respectively.
In addition to the low-carbon transition, the report tracks investment in the clean energy supply chain, which fell slightly to $140bn in 2024 but is expected to grow to $164bn in 2025.
Batteries received 60% of the supply chain investment.
Climate-tech companies secured $50.7bn in equity, marking a third consecutive year of decline.
The US led in equity raising with $17.9bn, followed by China with $9bn.
Energy transition debt reached $1tn in 2024, a 3% increase from 2023, driven by corporate debt growth.
The US and China were the largest markets for energy transition debt, both experiencing growth in debt sales.
