BNEF: The Next Half-Trillion-Dollar Market – Electrification of Heat

Published 26 Apr 2023

In January this year, BloombergNEF announced that investment in the clean energy transition had broken through the $1 trillion mark in 2022, for the first time matching the total investment in fossil fuels. Just under 90% of the funds went to just two sectors: renewable energy and electric vehicles, which each attracted nearly half a trillion dollars. This was good news for the climate, but does beg the question, which will be the next clean energy sector to attract half a trillion dollars per year?