China lead the world on clean energy investment with nearly half of the global total

According to BloombergNEF China outperformed all nations in terms of clean energy investment in 2022, spending $546 billion,  nearly half of the global total.

The United States was a distant second with $141 billion, while the European Union would have been second if treated as a single bloc, with $180 billion, the report from research firm Bloembergen said.

The global investment in low-carbon energy transition totaled $1.1 trillion  in 2022 . China has  strongly  increase  clean energy factory investment, which the report refers to as investments in manufacturing facilities for clean energy technologies.

New investment grew to $78.7 billion in 2022, up from $52.6 billion in 2021 . Manufacturing facilities for batteries and related components made up the largest share of this investment with $45.4 billion, while solar factories attracted $23.9 billion.

New report showed that China accounted for 91 percent of manufacturing investments in 2022.The manufacturing capacity for clean energy technologies is unlikely to be the major bottleneck to achieving net zero carbon emissions, Antoine Vagneur-Jones, BNEF’s head of trade and supply chains research, was quoted as saying in a news release .

“However, from a supply chain diversification point of view, the picture has not changed much. China is by far investing the most in building out its clean energy supply chain, and it remains to be seen if other regions can capture significant market share,” he said.