The United States’ investment in clean energy reached its highest point in 2021 at 105 billion U.S. dollars. This represents a substantial increase since 2004, when investment totaled roughly 10 billion U.S.
Changes in investment level
While investment has risen drastically over the past twenty years, growth has not always been consistent. Investment dropped after 2008 in the wake of the financial crisis, before climbing to a new peak in 2011 before decreasing again for a few years. Significant fluctuations in the energy market as a whole played a part in wavering investments during the turbulent years following the global recession.
Unstable fossil fuel prices
In addition to environmental concerns, the volatility of oil markets in recent years contributes to rising interest and investment in renewables. In response to swelling international oil prices during the 2008 financial crisis, investors sought to develop both renewables as well as new technologies to domestically extract fossil fuels, such as hydraulic fracturing. A surplus of shale oil and natural gas followed and led to the further destabilization of the U.S. energy market, known as the 2010s oil glut.
Investment in clean energy in the U.S. from 2004 to 2021
(in billion U.S. dollars)
Includes new investment in wind, solar, biofuels, biomass, waste, energy smart technologies (such as electric vehicles and lithium-ion batteries), and other renewables/low carbon services.
Values for 2020 and 2021 are taken from the latest report.
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BloombergNEF, & BCSE. (March 2, 2022). Investment in clean energy in the U.S. from 2004 to 2021 (in billion U.S. dollars) [Graph]. In Statista. Retrieved November 30, 2022, from https://www.statista.com/statistics/499193/clean-energy-investment-in-the-us/
BloombergNEF, und BCSE. "Investment in clean energy in the U.S. from 2004 to 2021 (in billion U.S. dollars)." Chart. March 2, 2022. Statista. Accessed November 30, 2022. https://www.statista.com/statistics/499193/clean-energy-investment-in-the-us/
BloombergNEF, BCSE. (2022). Investment in clean energy in the U.S. from 2004 to 2021 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: November 30, 2022. https://www.statista.com/statistics/499193/clean-energy-investment-in-the-us/
BloombergNEF, and BCSE. "Investment in Clean Energy in The U.S. from 2004 to 2021 (in Billion U.S. Dollars)." Statista, Statista Inc., 2 Mar 2022, https://www.statista.com/statistics/499193/clean-energy-investment-in-the-us/
BloombergNEF & BCSE, Investment in clean energy in the U.S. from 2004 to 2021 (in billion U.S. dollars) Statista, https://www.statista.com/statistics/499193/clean-energy-investment-in-the-us/ (last visited November 30, 2022)