Getting Down and Dirty on Clean Energy’s Performance Tear

Core Insights - Clean energy investments have significantly outperformed the broader market, with the S&P Global Clean Energy Transition Index rising by 50% compared to a 17% increase in the S&P 500 [2] - The global investment in renewable energy reached nearly $400 billion in the first half of 2025, with solar energy accounting for over half of this amount [3] - China remains the largest player in clean energy, responsible for 40% of global spending, while emerging markets show increasing investment opportunities [4] Investment Trends - The demand for clean energy materials, such as solar panels, has surged due to the need for expedited project completion, despite challenges like halted turbine projects and expiring tax credits [2] - In the US, spending on wind and solar energy was approximately $35 billion in the first half of the year, reflecting an 18% decrease year-over-year [3] - Renewables have contributed to 93% of the growth in US energy capacity this year, driven in part by energy consumption from new AI data centers [3] Company Performance - First Solar, the largest panel manufacturer in the US, raised its lower sales forecast for 2025 following record sales in Q3, with its stock increasing by 42% year-to-date [3] - Bloom Energy's stock has seen a remarkable increase of 460% this year, highlighting strong performance in the clean energy sector [3] Regional Insights - Emerging markets, excluding mainland China, have seen investments grow from $49 billion in 2015 to $140 billion last year, although investment progress is concentrated in a few markets [4] - Developed economies accounted for 42% of global clean energy spending, indicating a competitive landscape among different regions [4]