Overcoming supply chain challenges H1 invested a total of $226 billion in renewable energy

In the first half of 2022, global renewable energy investment totaled US$226 billion, a record for the first half of the year
.
A new report released by Bloomberg New Energy Finance, Renewable Energy Investment Tracker 2H 2022, shows that the increase in investment reflects the accelerating demand for clean energy supply in response to the ongoing global energy and climate crisis
.

Investment in new large- and small-scale solar projects rose to a record $120 billion, up 33%
from the first half of 2021.
Financing for wind energy projects rose 16% year-over-year to $84 billion
.
Recently, both industries have been challenged
by rising input costs for key materials such as steel and polysilicon, as well as supply chain disruptions and rising financing costs.
However, today's data suggests that investor interest is stronger than ever, in part due to the current very high
energy prices in many markets around the world.

In addition to booming project investment, venture capital and private equity investment in renewable energy and energy storage hit a record high in the first half of the year, raising $9.
6 billion, up 63%
year-over-year.

However, public share issuance declined
.
After a strong first half of 2021, public market issuance by renewable energy companies fell 65% in the first half of 2022, totaling $10.
5 billion.

Funds raised in the second quarter were $3.
9 billion, the lowest quarterly total
since the second quarter of 2020.

Albert Cheung, head of analytics at BloombergNEF, said: "Policymakers are increasingly recognizing that renewables are key
to meeting energy security goals and reducing dependence on volatile energy commodities.
Despite headwinds from ongoing cost inflation and supply chain challenges, demand for clean energy has never been higher, and we expect the global energy crisis to continue to be an accelerator
for the clean energy transition.
”

China's investment in the financing of wind and solar projects has grown significantly
.
The country's large-scale solar investments in the first half of 2022 totaled $41 billion, up 173%
from the previous year.
Invested $58 billion in new wind projects, up 107%
year-on-year.
"Green infrastructure is the most important investment area
for China to boost its weak economy in the second half of 2022.
The growth trend in investment follows China's strategy to build new renewable energy generation
.
This way it can replace existing coal-fired power generation facilities
.
China is on track to reach its 1,200 GW installed wind and solar capacity target
by 2030.
”

Offshore wind was another sector with significant growth, with investment up 52% year-on-year to $
32 billion.
Chelsea Jean-Michel, offshore wind analyst at BNEF, said: "As offshore wind capacity grows from 53GW in 2021 to 504GW in 2035, investment in 2022 will flow into projects
coming online in the coming years.
Offshore wind projects enable companies and governments to make progress
towards decarbonization targets at scale.
”