By Anders Lorenzen

A BloombergNEF (BNEF) report has revealed that 2024 was a bumper year for clean energy investments across the globe.

In Energy Transition Investment Trends 2025, the energy analysts found that in 2024, clean energy investments reached a record high of $2.1tn and were responsible for the sector’s growth by 11%.

The electrification of transport, renewable energy and power grids were the most popular investments.

$757bn was invested in electrified transport which led the way and was then followed by renewable energy investments of £728bn, with power grids receiving $390 bn in investments.

A widening gap

While the investment will buoy established players in the sector, the analysis highlights a large gap between mature and emerging technologies.

Emerging technologies such as electrified heating, hydrogen, and carbon capture experienced a 23% decline in investments, which analysts have put down to cost-effectiveness and technological maturity, with both public and private investors being put off by those risks.  

Unsurprisingly, China emerged as the most significant investment market with investments of $818bn, which was an increase of 20% compared to 2023 and accounted for two-thirds of the global rise. In India and Canada, investments grew by 13% and 19% respectively. 

In the US and Europe, investments were either declining or stagnant. 

Albert Cheung, Deputy CEO of BNEF, said about the analysis, “Our report shows just how much growth we’ve seen in the energy transition over the past few years, despite political uncertainty and high interest rates,” but underlined that “There is still much more that needs to be done, especially in emerging areas like industrial decarbonization, hydrogen and carbon capture, in order to reach global net-zero goals.”