How Is KR 10.4 Tracking?
The Project Financing key result represents our single largest bucket of money. It calls for at least $1 trillion per year for the next two decades.
From 2010 to 2021, clean energy project financing for new facilities and retrofits roughly doubled, from $210 billion to $431 billion, including $1 billion per day currently spent on renewable energy installations.
Most of these funds are dedicated to solar and wind plants, with growing amounts going toward electrification of heat and transportation. While the trend is promising, those dollars could make a greater difference if they were channeled toward even newer, critically needed technologies.
Beyond funding proven technologies, public and private banks need to issue more loans for new energy sources, new types of energy storage, clean hydrogen, and new carbon capture projects.
Data for KR 10.4 is sourced from BloombergNEF’s Energy Transition Investment report, which updates quarterly.
Clean energy project financing is steadily on the rise: