Worldwide investment in renewable energy 2014-2023

In 2023, the total new investment in renewable energy amounted to approximately 619 billion U.S. dollars worldwide. This was an eight percent increase from the previous year. 

China leads the way

The amount of funding provided for clean energy worldwide has steadily increased over the last decade. In 2014, clean energy investments totaled 263 billion U.S. dollars and increased to a peak of 619.1 billion U.S. dollars in 2023. The significant increase in investment funding indicates that the industry has matured greatly. Policy support for renewable sources, an accelerating industry, and the emergence of publicly listed companies that own renewable energy assets (also known as yieldcos) have driven the steady rise in clean energy investment. The country with the highest investment in renewable energy is China, with investments amounting to 273 billion U.S. dollars in 2023. 

Investment is highest for both solar and wind

There are many sources of renewable energy available these days, such as biomass and waste-to-energy, geothermal and marine. However, investment in solar and wind energy is by far the highest. Global investment in solar PV energy has soared during the last years, rising from 126 billion U.S. dollars in 2019 to almost 300 billion U.S. dollars in 2022.