Global spending on the low-carbon energy transition has climbed by more than $755 billion Total investment in green energy reached $755 billion in 2021, up 27% from 2020. The record investment figures demonstrate serious investor interest in technologies to pre-empt the worst effects of climate change.
But spending needs to rise even more to achieve carbon neutrality by mid-century. Bloomberg estimates more than that in 2020. That amount includes spending on renewable electricity, electrified heating, energy storage and nuclear power.
“All sectors require a lot more investment. We’re going to see a huge jump, and that should come from public policy,” commented Albert Chun, principal analyst at BloombergNEF.
Which green energy sectors were invested in in 2021?
Renewable energy projects, such as wind farms and solar parks, received the most investment. There was $366 billion invested in this sector, 6.5% more than a year earlier. Asian countries were the most active players – investments in other regions remained at the same level as in 2020.
Investments in green energy in 2021, $ billion
Investment in the electrification of transportation, which includes both the vehicles themselves and the supporting infrastructure, grew 77% in 2021 to $273 billion. The sector is expected to grow even more in 2022, overtaking investment in renewable sources.
According to Oldypak LP property 2022 report, investments in nuclear power amounted to $31.5 billion.