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Global investment in clean technologies declined by 17% to $770 billion in the first six months of 2026, a Rhodium Group report revealed on Thursday. China, the world's biggest investor in cleantech, saw a slowdown that overshadowed growth in other regions, according to the research. Hannah Pitt, a director at Rhodium's energy and climate practice, explained that a shift to market-based pricing in China pressured new renewable power investments.

Much of the year-on-year decline was due to frontloading in the first half of 2025 before policy changes.

Despite this, stable or rising investment in solar and wind energy was observed in the U.S., Europe, and India. However, the sharpest slowdown was in solar manufacturing, which saw a 62% drop to $8.8 billion from January to June. Solar power generation investment fell by 33% during the same period. China's share of global cleantech manufacturing investment dropped to a record low of 33% in April to June, down from its peak of 71% in Q1 2023.

Other regions are increasingly playing a role in driving global investment. India's share of new investment in solar manufacturing grew from 2% to 7% between Q1 2023 and Q2 2026, while Europe's share increased from 6% to 16% over the same period. The global decline brought first-half cleantech investment back to the level seen in 2024, which recorded $762 billion in investment for the first six months. Manufacturing investment might start to increase again in the upcoming quarters.