BNEF found that "[o]verall investment in new renewable energy capacity (excluding large hydro-electric dams of more than 50MW) was $132.4 billion in the first half of 2020, up 5% from a revised $125.8 billion in the same period of 2019."
Increased offshore wind financings, which totaled $35 billion in the first half of 2020 (a new record), offset declines in investment in other technologies. For example, onshore wind investment dropped 21% to $37.5 billion, while that for solar fell 12% to $54.7 billion in the same period.
Albert Cheung, head of analysis at BNEF, commented: “We expected to see Covid-19 affecting renewable energy investment in the first half, via delays in the financing process and to some auction programs. There are signs of that in both solar and onshore wind, but the overall global figure has proved amazingly resilient – thanks to offshore wind.”