Solar-plus-storage investment hits $25bn in
Global investment in co-located solar and battery storage projects reached a record $25 billion in the first half of 2026, according to BloombergNEF.
Global renewable energy investment reached $327.5 billion in the first half of 2026, according to data from BloombergNEF (BNEF). This figure is virtually unchanged from the previous six months but 21% below the record set in the second half of 2024.
BNEF reports that deployment remains on track despite regulatory changes in key markets like the United States and China. Investment is increasingly shifting toward assets that offer greater flexibility in managing revenues.
Storage drives hybrid projects
Financing for standalone utility-scale solar fell more sharply than investment in onshore wind. Investment in standalone solar PV declined 20% year on year to $75.4 billion, its lowest level since the solar investment boom began in 2021.
Growing revenue uncertainty is pushing investors toward more flexible projects. This uncertainty is driven by solar price cannibalization, curtailment, and grid congestion.
Against this backdrop, co-located solar-plus-storage projects attracted a record $25 billion in investment in the first half of 2026. The figure was nearly double the total recorded in the second half of 2025 and three times the amount invested in the first half of that year. The United States and Australia led investment in this segment.
US accelerates ahead of incentive expiration
The United States was the second-largest market for renewable energy investment, behind China but ahead of the European Union. It recorded 54% year-on-year growth. Developers accelerated project financing to meet tax credit deadlines and respond to surging electricity demand, driven in part by data centers.
Solar investment in the US rose 41% to a record $45.8 billion. Wind investment reached $13.8 billion, more than double the previous year’s figure. BNEF notes that projects eligible for tax credits could sustain construction activity in the short term, with final installations scheduled through 2030.
Global investment trends
Global wind investment totaled $92.3 billion, down 27% year on year. Offshore wind was particularly hard hit, with investment plunging 72%. BNEF cites poor auction results, higher capital and financing costs, and a shrinking project pipeline.
Onshore wind investment declined by a more moderate 4% to $80.7 billion. Europe, however, bucked the trend. Germany, Romania, and Serbia all recorded record investment levels following recent auctions.
China accounted for just one-quarter of global investment, down from more than half in 2022. This followed reforms to its electricity market. Vietnam quadrupled its investment. Investment across Southeast Asia surpassed $12 billion.
Nigeria increased investment in distributed solar and storage. Central Asia maintained investment above $4 billion. Brazil helped push global biofuel investment to $7.7 billion.
BloombergNEF expects new renewable energy installations in 2026 to fall below 2025 levels. This would mark the first year-on-year decline in more than a decade. The analyst firm expects growth to resume in 2027.
