Shining bright: Chinese projects power solar investments to $358bn renewable record

Investments into the renewable energy space are breaking all records so far this year, largely powered by solar projects across Asia, with China in particular embracing the power of the sun, according to new data shared with Net Zero Investor today.

In fact, the world's second-largest economy accounted for nearly half of the record $358 billion invested in renewable energy projects during the first six months of this year.

Despite China taking the lead, investments in the U.S. skyrocketed by nearly 75 per cent, to $25.5 billion during the first half of 2023, fresh BNEF data showed. 

The growth in the U.S. was largely driven by the implementation of President Joe Biden's Inflation Reduction Act, as well as easing pressure on supply chains over the January to June period.

The global surge in investor interest is largely due to a thriving photovoltaic market, the commissioning of a range of mega-base energy projects as well as cheaper modules, the researchers found.

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