US clean energy draws record $105 billion in private investment

Private investment in US clean energy assets hit a record $105 billion last year as the country added an unprecedented amount of renewable energy capacity.

Investment inflows are 11% higher than in 2020 and represent an increase of 70% over the past five years, according to an annual report from BloombergNEF and the Business Council for Sustainable Energy (BCSE) of the United States.

Private backing of US assets such as wind farms and solar plants accounts for about 14% of the $755 billion in global private investment made last year.

“Clearly, there is investor enthusiasm and we anticipate further growth, but if you really want to tackle climate change, you have to get to levels that at least double implementation.” said Ethan ZindlerAnalyst at BNEF’s Energy Data and Analysis Unit. “What is needed is more support.”

Many climate-conscious governments, companies and investors are focused on greening power grids and reducing greenhouse gas emissions.

Of last year’s private investment in United States$47 billion went to renewable energy and $35 billion supported electric transportation, according to the report, titled “2022 Sustainable Energy in America Factbook”.