Investment in energy transition worldwide grew 11% to reach a record $2.1 trillion in 2024.
The data from BloombergNEF’s Energy Transition Investment Trends 2025 shows that growth has been driven by electrified transport, renewable energy, and power grids, which all reached new highs last year, along with energy storage investment. While overall investment in energy transition technologies set a new record, the pace of growth was slower than the previous three years, when investment jumped by 24-29% annually.
Investment in emerging technologies, like electrified heat, hydrogen, carbon capture and storage, nuclear, clean industry and clean shipping, reached only $155 billion, for an overall drop of 23% year-on-year.
The largest market for investment was mainland China, which alone accounted for $818 billion of investment, up 20% from 2023. China’s investment growth was equivalent to two-thirds of the total global increase in the year, with all sectors reviewed in the report showing solid growth.
Climate-tech companies raised $50.7 billion in private and public equity in 2024, down 40% year-on-year, and marking the third year of contraction. The fundraising was led by companies in clean power and transport, which together brought in $31.8 billion. The US was the largest market for equity raising, with $17.9 billion of new issuances tracked. China fell to second place with $9 billion.
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