Global New Energy Hits New Investment Record In 1H 2022

Renewable Energy Sector Defies Supply Chain Challenges to Hit a Record First-Half For New Investment; BloombergNEF reports an 11% year-on-year rise in renewable energy financing in the first half of 2022, for a total of $226 billion

August 2, 2022 (Bloomberg New Energy Finance)

“Global investment in renewable energy totaled $226 billion in the first half of 2022, setting a new record for the first six months of a year…[This] reflects an acceleration in demand for clean energy supplies to tackle the ongoing global energy and climate crises…Investment in new large- and small-scale solar projects rose to a record-breaking $120 billion, up 33% from the first half of 2021. Wind project financing was up 16% from 1H 2021, at $84 billion…

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…[Despite recent rising input costs for key materials such as steel and polysilicon, as well as supply chain disruptions and rising financing costs,] investor appetite is stronger than ever, in part due to the very high energy prices currently being seen in many markets around the world…[T]he first half also saw an all-time record for venture capital and private equity investments into renewables and energy storage, with $9.6 billion raised – up 63% on the previous year…[P]ublic market issuances for renewable energy companies dropped 65% in 1H 2022, totaling $10.5 billion…

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…China posted remarkable investment growth in both wind and solar project finance…[Its] solar investments totaled $41 billion in 1H 2022, up 173% from the year before…[and it] invested $58 billion in new wind projects, up 107% year-on-year…China is well on track to hit its 1,200 gigawatt wind and solar capacity target by 2030...Offshore wind was another sector that saw a stark increase, with investment up 52% from the previous year, to $32 billion…The United Kingdom, France and Germany are just a few of the countries that have increased their offshore wind targets in the first half of 2022, signaling further support…” click here for more

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