Global renewable energy investments hit $327.5B in H1 2026, solar-plus-storage surges

Global investment in renewable energy totaled $327.5 billion (€281 billion) in the first half of 2026, remaining nearly flat compared with the previous six months but down 21% from the record set in the second half of 2024, according to new data from BloombergNEF (BNEF). Analysts at BNEF report that while overall deployment remains on track, investor preferences are shifting toward projects that offer greater revenue flexibility amid rising grid congestion and price volatility.

The sharpest decline occurred in standalone utility-scale solar, where investment dropped 20% year-on-year to $75.4 billion (€64.7 billion), the lowest since the solar investment surge began in 2021. Revenue uncertainty stemming from price cannibalization, curtailment and transmission constraints is driving developers toward hybrid configurations.

Co-located solar-plus-storage projects attracted a record $25 billion (€21.5 billion) in the first half of 2026, nearly double the total from the second half of 2025 and three times the amount in the first half of 2025. The United States and Australia led global investment in this segment.

The United States ranked as the second-largest renewable energy market worldwide, behind China but ahead of the European Union, with investment rising 54% year-on-year. Developers accelerated financing to meet tax credit deadlines and respond to surging electricity demand, partly driven by new data centers. Solar investment in the U.S. climbed 41% to a record $45.8 billion (€39.3 billion), while wind investment more than doubled to $13.8 billion.

Global wind investment fell 27% to $92.3 billion, with offshore wind hit hardest by poor auction outcomes, higher capital costs and a shrinking project pipeline, resulting in a 72% decline. Onshore wind investment dropped 4% to $80.7 billion, although Europe bucked the trend, with record investments in Germany, Romania and Serbia following recent auctions.

China’s share of global renewable investment fell to one-quarter, down from over half in 2022, following electricity market reforms. Meanwhile, Vietnam quadrupled its investment, Southeast Asia surpassed $12 billion, Nigeria expanded distributed solar and storage, Central Asia maintained investment above $4 billion, and Brazil contributed to a $7.7 billion global biofuel investment total.

BloombergNEF projects that new renewable installations in 2026 will fall below 2025 levels, marking the first year-on-year decline in more than a decade, before rebounding in 2027.

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