Investment in the global low-carbon energy transition rose 11% in 2024, reaching $2.1 trillion, as reported by BloombergNEF’s Energy Transition Investment Trends 2025. Key drivers of this growth were electrified transport, renewable energy, and power grids, although the pace of growth was slower compared to previous years.
Electrified transport saw the largest investment surge, with $757 billion directed toward passenger electric vehicles (EVs), electric two and three-wheelers, commercial EVs, public charging infrastructure, and fuel cell vehicles. Renewable energy investments amounted to $728 billion, covering wind, solar, biofuels, and other sources. Power grids saw $390 billion in investment, focusing on transmission, distribution lines, substation equipment, and grid digitalisation.
The report highlighted a gap between mature and emerging clean energy sectors, with mature technologies such as renewables and EVs attracting $1.93 trillion in investment. In contrast, emerging technologies like electrified heating, hydrogen, and carbon capture saw a 23% decline in investment, totalling $155 billion.
China led the investment surge, accounting for two-thirds of the global rise with $818 billion in 2024, a 20% increase from 2023. The US, European Union, and UK saw stagnant or declining investments, while India and Canada grew their investments by 13% and 19%, respectively.
The report also tracks investment in the clean energy supply chain, which fell slightly to $140 billion in 2024 but is expected to grow to $164 billion in 2025. Batteries received 60% of the supply chain investment. Climate-tech companies secured $50.7 billion in equity, marking a third consecutive year of decline, with the US leading equity raising at $17.9 billion.
Energy transition debt reached $1 trillion in 2024, a 3% increase from 2023, driven by corporate debt growth. Both the US and China were the largest markets for energy transition debt, experiencing growth in debt sales.