Renewable Investment Hits Record As Utility-Scale Solar Financing Slows Globally

• BloombergNEF says global clean-energy investment set a new record even as H1 2025 financing for utility-scale solar and onshore wind cooled.

Global investors are still writing big checks for clean energy—but they’re choosing their spots more carefully. New analysis from BloombergNEF shows total renewables investment hitting a fresh record, even as first-half 2025 financing for utility-scale solar and onshore wind slowed, reflecting tighter underwriting and a tilt toward markets and technologies with clearer returns.

Several forces are at work. Interest rates and grid bottlenecks have made some merchant or weakly contracted projects harder to fund. Meanwhile, storage—especially four-hour systems co-located with solar—is absorbing more capital because it unlocks peak-time value and essential grid services. Corporate buyers and data-center loads are also reshaping where projects land, pulling development toward regions with strong interconnection prospects and creditworthy offtakers.

For developers, the takeaway is discipline. Bankable offtake, proven EPC partners, and realistic interconnection timelines are prerequisites. Portfolios are leaning on standardized designs and cross-supply agreements to lock in transformers and inverters early, cutting schedule risk. On the equity side, platforms that recycle capital via portfolio refinancings or asset sales are outcompeting single-asset builders.

None of this implies a slowdown in the energy transition. Rather, capital is sorting—away from speculative pipelines and toward executable projects with flexible revenue stacks. Expect utility-scale solar to re-accelerate where permitting and grid access improve and where storage participation is embedded from day one.

The headline number—record investment—matters for momentum. The mix underneath it tells you where the next wave of bankable clean megawatts will emerge.