China Leads in Clean Energy Manufacturing Investments

As leaders of the world's two largest economies meet in Beijing this week, a new analysis shows a divergence between China and the United States in clean energy manufacturing investments. Chinese companies accounted for 55 percent of nearly $1.1 trillion in clean energy manufacturing investments announced from 2019 through 2025.

U.S. companies had the second-largest share but accounted for less than half the Chinese total, according to a report this week by a clean energy-focused data and research firm. Chinese firms led in each category examined: batteries, solar energy, wind energy and electric vehicles.

For solar, Chinese companies accounted for nearly 80 percent of investments. For wind, the share was more than half. The report identified 86 Chinese companies with more than $1 billion in investments compared to 19 firms based in the United States.

Battery manufacturing drew nearly half the total investment because of the sector's capital-intensive needs.

After several years of growth, companies announced more cancellations of clean energy projects in the United States in 2025 than in the rest of the world combined. The result was the first year that these investments actually shrank in the United States.

While several factors contributed to the loss, it coincided with actions by the Trump administration and congressional Republicans to withdraw support for renewable energy and electric vehicles while promoting fossil fuels. A senior policy analyst at the research firm said the United States is falling further behind.