By Mark Jaffe, EUCI energy writer
Investment in renewable energy and other clean tech sectors faltered in the first half of 2026, according to analyses by BloombergNEF (BNEF) and the Rhodium Group.
Renewable energy investment reached $327.5 billion for the first six months of 2026, about the same as the previous six months, based on Bloomberg’s tally, but down 21% from its peak in the second half of 2024.
“Investment in clean power, transportation, manufacturing, and low-carbon industry totaled nearly $2 trillion last year, three times the amount recorded in 2018,” the Rhodium Group said.
“That momentum weakened in the first half of 2026, however. Global clean investment was 17% below the same period in 2025,” the Rhodium report said.
Utility-scale solar and wind usually make up two-thirds of annual renewable energy investment, but BNEF said it accounted for less than half the investments for the first six months of 2026, in part due to tighter scrutiny of revenue risks and returns.
Stand-alone utility-scale solar was hardest hit, BNEF said, with investment dropping 20% year-over-year to $75.4 billion – the lowest level of financing since the solar boom began in 2021.
“Concerns about curtailment, power price cannibalization, and grid congestion led asset financing to fall in multiple markets – particularly China, Brazil, and parts of Europe, Bloomberg said.
Onshore and offshore wind investment was down 27% to total $92.3 billion for the first half of 2026, with the biggest hit coming in offshore wind.
Investments flowed to co-located projects with energy storage. They drew a record $25 billion in funding over the first half of the year, nearly double the second half of 2025. The U.S. and Australia continue to lead global co-located solar and storage investments in 2026.
China remained the single largest market for renewable energy, followed by the U.S. and the European Union.
U.S. investment was spurred by developers pushing to hit deadlines to capture expiring federal tax credits and the unprecedented load growth from data centers. Those solar and wind projects will support near-term development through 2030.
“New renewable energy additions in 2026 are expected to be below the 2025 level – the first year-on-year slide in over a decade, reflecting recent investment declines,” the BNEF analysis said. “However, the setback is temporary. BNEF expects new capacity additions to rise again from 2027.”
As for other clean tech investments, electric power and transport technologies – the two largest components of global clean investment – fell in the first half of 2026 year-over-year, as well as the last six months of 2025, according to the Rhodium Group.
Electric-power investment totaled $320.5 billion in the first half of 2026, down by $59.7 billion, or 16%, from the second half of 2025.
Electric transportation, after rapid investment growth over several years, saw a 4% first quarter increase to $183.2 billion. The second quarter investment of $198 billion was a 6% decline year-over-year.
“China accounted for most of the decline,” Rhodium said. “China’s transition toward market-based pricing for new renewable generation in 2025 drove a rush of installations ahead of the deadline, followed by an uneven pullback.”
In addition, China phased out consumer EV purchase tax exemption. The result was that China clean investments fell by $133 billion, or 49%, between the fourth quarter of 2025 and the first quarter of 2026.
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