Global investment in clean technologies was 17% lower in the first half of 2026 than it was last year, returning to roughly in line with 2024 levels, according to the latest Clean Investment Monitor update from Rhodium Group.
‘Investment in clean power, transportation, manufacturing, and low-carbon industry totalled nearly $2 trillion last year, three times the amount recorded in 2018. That momentum weakened in the first half of 2026, however,’ it noted.
According to Rhodium Group, in the first quarter of 2026, investment in clean technologies fell to $151.1 billion, or 28% lower than the final quarter of 2025. In the second quarter, investment was up to $395.4 billion, however this still meant that the overall half-year period recorded a decline.
Sector by sector
On a sector-by-sector basis, electric-power investment dropped by close to a third (31%) in in the first quarter from the elevated levels recorded in Q4 2025, then rose 5% in Q2. Transport investment, meanwhile,, fell 29% in Q1 from the previous quarter, then rose 8% in Q2. Clean power and transport spending in Q2 2026 remained at 39% and 6% below Q2 2025 levels, respectively, the data showed.
Regionally, China accounted for 88% of the global decline in the first quarter, having previously recorded a surge in solar, wind and electric vehicle deployment ahead of changes to government support mechanisms, such as the phasing out of EV purchase-tax exemptions.
However, at the same time, investment became more geographically distributed – in the second quarter, spending on clean technologies increased 23% in India, 11% in the US, and 4% in Europe compared with Q1. Spend in China was up 9%, quarter-on-quarter.
‘These increases made the quarterly uptick more geographically distributed, but were not large enough to offset the first-quarter decline or indicate a fundamental change in the global distribution of clean investment,’ Rhodium Group added.
Looking ahead
Rhodium Group noted that between 2018 and 2025, investment in clean technologies experienced a ‘relatively steady upward trend’, momentum that may be showing signs of flagging.
‘The coming quarters will show whether the Q2 uptick develops into more sustained growth and whether announced projects move into construction,’ it said. ‘Policy changes, shifting demand, trade measures, and continued pressure from excess manufacturing capacity will shape where new investment occurs and which projects ultimately advance.’ Read more here.
