Global Clean-Energy Trade Rebounds to $479 Billion in 2025 Despite Tariffs and Geopolitical Turmoil: BloombergNEF

In brief

BloombergNEF says global clean-energy product shipments reached $479 billion in 2025, up 1% from the previous year and reversing a 7% decline recorded between 2023 and 2024. The rebound came despite renewed and revised US tariffs affecting energy-transition sectors, showing that trade in solar equipment, batteries, electric vehicles, battery metals and grid equipment remained resilient. The report also argues that geopolitical instability, especially conflict in the Middle East and higher fossil-fuel prices, could strengthen demand for clean technologies in fuel-importing economies seeking more secure and affordable energy supplies.

The report highlights persistent overcapacity, largely driven by Chinese investment, as a defining feature of clean-energy supply chains, keeping pressure on manufacturers’ margins across solar, batteries and EVs. While the US and EU have expanded manufacturing capacity, BNEF says they are unlikely to become globally competitive exporters because projects remain concentrated downstream and some face delays or cancellations. Other findings include a shift in solar trade toward cells rather than finished modules, India and Turkey emerging as potential solar exporters, and rapid growth in batteries for stationary energy storage, whose share of battery shipments rose strongly in 2025.

Source: BloombergNEF

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