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An illustration of a line chart with four lines on graph paper laid on top of a photo of a large, utility-scale solar farm, with solar panels stretching off into the distance. The tint of the photo is dark green.

Amid evolving politics, cleantech financing reaches watershed moment

Money is the key to the energy transition. Today, a greater share is being invested into clean power sources, but less is flowing to new cleantech ideas and startups.
Data Dives
Bill Spindle 2 min read
An illustration of a lightbulb with a tree inside on a low step, and then a gap and then two much higher steps to a pile of coins. The steps are black and white and the background is light blue.

Tech is outpacing finance — Here’s how to solve that

We need financial innovation: novel ways to invest in climate solutions that can bridge the scale gap and unlock essential technologies.
Voices
Dawn Lippert & Avra Van der Zee 4 min read
An illustration that has the European Union flag, a donut chart and the symbol for the Euro layered on top of each other. The background is a stylized sky in faded yellow and light blue.

AI boosts Europe’s cleantech, but investments still lag

More than half of Europe's cleantech investments during the first quarter of 2025 went to the energy and power sector. But cleantech investments overall dropped.
Data Dives
Anca Gurzu 2 min read
An illustration of a hand holding up a lock with

Three keys to unlock the true potential of carbon markets

Billions of dollars in investments could flow into clean technologies if three key decisions are made by the organizations that supervise carbon markets.
Voices
David Prieto 3 min read

Under Trump, carbon capture sector mulls rebrand and sees optimism

While some parts of the clean energy sector have faced high-profile criticism under the new Trump administration — think electric cars and wind energy — carbon capture technologies have so far not faced similar scrutiny. Uncertainty still looms large.
Latest News
Amena H. Saiyid 5 min read
An illustration with a cut out in the shape of Donald Trump's head with a power plant, cast in green, inside the cutout. On a blue background behind the cut out, there's also a scribbled silhouette of Trump's head in what looks like a darker blue marker.

Solar’s dizzying investments return to normal level

China's investments in solar factories plunged after reaching a high in 2023. U.S. investments, meanwhile, are steadily rising.
Data Dives
Amena H. Saiyid 2 min read
An illustration that has a bar chart in the foreground and a photo of a man standing in front of a solar panel in a factory setting in the background. The photo is tinted light blue.

2025 climate solutions trends: Scrutiny, humility and surprises (probably!)

Amy Harder shares the five global climate solutions trends she's watching in 2025.
Harder Line
Amy Harder 5 min read
An illustration of the year

2024 reflections: AI power, elections and more

We knew some of what this year would bring — like consequential elections — while some events took many of us by surprise — like a sudden boom in electricity demand fueled (largely) by artificial intelligence.
Harder Line
Amy Harder 5 min read
An illustration of the Earth in the top of an hourglass, slowly disintegrating into sand that's falling through the hourglass. Next to the hourglass, on the right, the year

Cipher analysis: Emerging clean technologies see sharp drop in investments this year

Spending announced for several key emerging clean technologies in the United States fell this year, as market forces, lack of infrastructure and political and regulatory uncertainty disrupted the momentum built up in recent years.
Latest News
Amena H. Saiyid 4 min read
An illustration of three large storage containers lined up in a row, one with

Calling for adaptation over emissions in development funding

A new study urges global development banks to prioritize funding for lower-income nations to help them adapt to climate change, above and beyond reducing emissions.
Data Dives
Amena H. Saiyid 2 min read
Illustration with a grid of images in blue and green showing solar panels, the Earth, wind turbines, money, hurricanes and flooding.

At COP29, dancing delegates, purring cats and long days

A flurry of parallel activities was the norm at the United Nation's climate summit, leaving a reporter both overwhelmed and with a bit of FOMO at times.
Reporter's Notebook
Anca Gurzu 6 min read
Line drawing of cat with head turned, sitting next to a microphone and a stack of notebooks, with the COP29 logo in the background.

Global cleantech market to top $2 trillion by 2035 – IEA

The global clean technology market has more than tripled in the last eight years and, under current policies, is expected to nearly triple again by 2035.
Data Dives
Cat Clifford 2 min read
Illustration of a horizontal bar chart superimposed over a dark blue map of the world.

Five things to know as COP29 kicks off in Azerbaijan

Money talks are front and center as the United Nations summit gets underway — but the election of Donald Trump as the next U.S. president is also set to loom over the summit.
Explainers
Anca Gurzu 4 min read
An illustration where

Latin America buying more cheap solar this year

Brazil's voracious appetite for small-scale solar projects is driving Latin America's clean energy investment surge.
Data Dives
Amena H. Saiyid 2 min read
A multi-colored bar chart is transposed over a black and white photo of solar panels on the roof of a house.

Southeast Asia’s path to universal energy access and net-zero emissions

Southeast Asia is projected to keep increasing its reliance on carbon-intensive fuels like coal for the next 25 years. We need to slow, and ideally reverse, that fossil dependence.
Voices
Nicole Iseppi & Sunita Dubey 4 min read
Aerial photo of a solar farm next to a small town and green fields.

Lower interest rates should offer relief to renewables

The events of the last few years have changed the math for clean energy projects, and the industry’s challenges are far from over.
Latest News
Bill Spindle 4 min read
An illustration of a wind turbine, solar panel and hydrogen tank with a parachute lowering a percent symbol.

Majority of top states for jobs from new clean energy projects are GOP, battleground

Politically conservative and battleground states are leading the way in jobs created by new clean energy projects announced since President Biden’s signature climate law passed two years ago.
Data Dives
Cat Clifford < 1
Illustration of a bar chart on top of an outline of the United States map with a black and white photo of wind turbines inside.

Wind and solar drive new U.S. tax credit market

A new clean energy tax credit market created by the 2022 Inflation Reduction Act is drawing transactions in the billions, essentially freeing up dollars for the clean energy developers to invest anew in the cleantech space.
Data Dives
Amena H. Saiyid 2 min read
Illustration of a pie chart on top of a calculator and a computer.

How innovation, coordination and compassion can help us tackle climate change

We drive economic growth without disrupting complex human and environmental systems by focusing on three key goals.
Voices
Robert Murphy 3 min read
Illustration of two sets of hands holding up a globe.

How investors can help solve AI’s energy problem

The road forward for artificial intelligence hinges on solving climate and energy challenges, so it is imperative investors back the entrepreneurs hard at work building sustainable solutions.
Voices
Ben Hemani 3 min read
An illustration with a green background, electricity warning signs in yellow, a human hand extending a wad of cash and a robotic hand reaching to take the cash.

How to close the ‘missing middle’

There is a financing gap in the economy for getting so-called ‘first of their kind’ projects to scale. A few solutions could help cleantech companies and investors bridge that gap.
Voices
Heather Zichal & Ramaswamy Variankaval 4 min read
An illustration that shows a bridge with a lightning bulb on one side and a dollar sign on the other.

Private sector “race to the top” crucial for the transition, John Kerry says

The energy transition has a price tag in the trillions of dollars. Securing all that funding will depend heavily on the private sector, says the former U.S. climate envoy.
Latest News
Anca Gurzu 2 min read
Four people sit on a stage in front of an audience with the words

Get to know this secret climate tech star

Catch up on Cipher's full profile of MIT professor and serial entrepreneur Yet-Ming Chiang.
Latest News
Cat Clifford 11 min read
Illustration with a blue background showing the same man in a variety of different poses.

How a secret climate star turns ‘stone soup’ into climate progress

Professor and serial entrepreneur Yet-Ming Chiang's superpower is getting the right people around a cutting-edge idea and helping bring out their best
Latest News
Cat Clifford 6 min read
Three men stand in front of a sheer rock face.

Meet the MIT professor who is a secret star of climate tech innovation

If you’re not deeply enmeshed in climate tech innovation, there’s a good chance you don’t know the name Yet-Ming Chiang. But if you are, you probably do — or you know about the companies he has helped launch.
Latest News
Cat Clifford 6 min read
A man stands smiling with his arms crossed in front of scientific laboratory equipment.

The carbon credit industry attempts a comeback

Over the last two years, the industry has faced a barrage of critical news stories, academic studies and lawsuits. But in recent weeks, carbon credits have received some big boosts.
Latest News
Bill Spindle 4 min read
Illustration with a green background, showing a cloud with

U.S. energy loan chief on hydrogen, peak power demand, pipelines and his coffee mug

Cipher sits down with Jigar Shah, director of the Loan Programs Office in the U.S. Energy Department for a Q&A about the energy transition landscape.
Q&A
Cat Clifford 4 min read
Jigar Shah, director of the Loan Programs Office, speaking at CERA Week in March. Against a purple background

Helping entrepreneurial scientists cross the first ‘Valley of Death’

Many scientists develop breakthrough materials and new processes that could be successful commercial products. But most of these breakthroughs remain in lab notebooks or seminar slides and never translate into startup ideas.
Voices
David Jaramillo 3 min read
Illustration, scientist stands in front of a deep valley, with a wind turbine and solar panels on one side and an oil rig on the other. Blue background.

Changes in US tax rules provide big boost for renewables

Changes in how U.S. tax credits can be deployed are giving renewable energy financing a big boost.
Explainers
Bill Spindle 3 min read
Animated illustration, dollar bills blow in front of the word

Let’s build an apprenticeship program for climate entrepreneurs

It’s time for startups to actively adopt a cleantech apprenticeship model from their inception. The urgency of climate change today means we don't have the luxury of letting apprentice-mentor relationships form organically.  
Voices
Alice Havill 4 min read
Illustration of hikers in the foreground with wind turbines in the background.

Clean energy fueled China’s economy last year

Massive investments in solar power, electric vehicles and battery storage accounted for virtually all of China's economic growth in 2023.
Data Dives
Bill Spindle 2 min read
Green bars of a bar chart.

Why cleantech groups want the EU’s public lending arm to prop them up

They want the European Investment Bank to offer them a safety net through so-called public guarantees, which they argue would allow for a faster scale-up of emerging technologies.
Explainers
Anca Gurzu 4 min read
The front a of a glass building with the European Investment Bank name and logo on it.

High costs deter investors from industrial sector technologies

Reducing carbon dioxide emissions in the global industrial sector is an uphill battle because investors are reluctant to pour money into costly, emerging technologies like clean hydrogen, according to Bloomberg NEF’s latest findings.
Data Dives
Amena H. Saiyid 2 min read
Graph without labels

Climate tech venture capital spending set to drop 28% in 2023

Venture investments in climate and cleantech are on track to fall 28% below last year's spending, according to PitchBook's data shared exclusively with Cipher.
Data Dives
Amena H. Saiyid < 1
VC Graph without labels

Japanese venture capital takes up climate finance

Rising concern about climate among Japan’s youth combined with a burgeoning enthusiasm in traditional corporate Japan for clean technologies has led to a new focus on venture capital and startups.
Latest News
Bill Spindle 4 min read
Yasuda Auditorium at the University of Tokyo in the foreground, with a Japanese flag overlay. Additionally, in the background, there is an image of solar panels and wind turbines.

On net zero goals, corporate pledges rise but progress lags

Companies are getting better at “talking the talk” of net zero, but they’re not doing nearly as well in “walking the walk."
Data Dives
Bill Spindle 2 min read
Blue and green bar chart

United States home to more than 1/3 of cleantech startups

The United States is far and away the global leader when it comes to where cleantech companies are headquartered, but some metrics from a new report show its influence may be waning.
Data Dives
Amy Harder < 1
pie chart

How to understand direct government aid for climate change

Wealthier nations say they are on track to belatedly meet a goal of providing $100 billion a year to poorer nations for climate adaptation and mitigation, but critics say this fund won't be enough for countries buffeted by climate-fueled impacts.
Explainers
Amena H. Saiyid 4 min read
Climate financing's fate at COP28 is overshadowed by devastating images of flooding in Pakistan.

In poorer nations, coal persists despite energy transition efforts

Just Energy Transition Partnerships — often referred to as JET-Ps — are seen as one of the primary ways wealthy, industrialized countries can help phase out coal use in low and middle-income countries while addressing the cost of closing coal plants and loss of employment. But progress implementing the deals is slow.
Explainers
Bill Spindle 4 min read
Illustration showing one hand making a

Climate cash hopes hang on development bank reforms

Reforming how huge lenders like the World Bank operate is key to channeling more climate financing to developing countries. But proposed reforms of multilateral development banks are limited and must come with fresh cash.
Explainers
Anca Gurzu 5 min read
White pillars hold up the Earth, symbolizing international banking.

Here are the five states leading on cleantech investments

Electric cars and their supply chains are driving record cleantech investments across the United States, led by California, Texas and Florida.
Data Dives
Amena H. Saiyid < 1
Blue and green bar chart.

COP28’s big challenge is closing the energy investment gap

Clean energy investment is ramping up fast, but most of it is still not reaching beyond the world’s richest countries. 
Explainers
Bill Spindle 4 min read
The Earth, shaded red, is in the middle of a black background with the words

U.S. cleantech investment soars, new database finds

U.S. cleantech investments have nearly tripled in the past five years since the enactment of three key pieces of legislation, according to a new database from Rhodium Group and MIT CEEPR.
Data Dives
Amena H. Saiyid 2 min read
Blue and green horizontal bars.

At year’s halfway mark, climate tech investments down

The amount of money that went into climate and cleantech venture capital investments in the first half of 2023 is roughly 29% less than the amount invested by this time last year, according to new PitchBook data shared exclusively with Cipher.
Data Dives
Amy Harder < 1

Why we must invest in innovative climate software and AI

Venture capitalists and startup founders are fiercely debating where we should focus our climate tech investments over the next five to 10 years.
Voices
Illai Gescheit 3 min read

Big oil sends cash to shareholders over drilling and cleantech

Despite record profits and a growing pile of cash, the world’s oil and gas industry has been slashing its investments in exploration and new production.
Data Dives
Bill Spindle 2 min read
Chart of oil and gas industry's expenditures

Economic headwinds slow climate tech investments

The amount of money going into climate and cleantech venture capital investments so far this year is nearly a quarter less than at this time last year.
Data Dives
Amy Harder < 1
Chart of global venture capital deal activity in climate and cleantech

With profits reigning, clean energy struggles to compete

Norway’s sovereign wealth fund—the largest of its kind in the world at more than $1.3 trillion—has made some 10,000 investments across the global economy.
Harder Line
Amy Harder 5 min read

Renewables boss says world needs to prop up new energy system

Power grids, undersea cables and ports are overlooked yet essential connectors ensuring renewable energy can flow across great distances from production to consumption.
Latest News
Anca Gurzu 3 min read

The Silicon Valley Bank collapse can be a catalyst for climate tech

The collapse of Silicon Valley Bank created a significant void in the world of climate finance, but it's now providing an opportunity for new support to emerge and for the industry to continue to grow and thrive.
Voices
Katie Rae 2 min read

The clean energy transition is bigger than Silicon Valley Bank

A harmful and misguided narrative is taking shape that Silicon Valley Bank’s collapse could derail our progress in fighting climate change. From where I sit, I see no connection.
Voices
Peter Davidson 2 min read

Three learnings from a tough week

For ten years, climate tech investing could feel as chilly as the ocean in my home state of Washington. It was hard to get others to jump in.
Voices
Dawn Lippert 2 min read

Despite banking crisis, cleantech outlook stays positive

The collapse of Silicon Valley Bank—a huge lender to clean energy technology startups—poses short-term risk to the sector, but experts say its outlook over the longer horizon remains positive.
Latest News
Amena H. Saiyid 3 min read

Europe scrambles to reclaim its industrial edge

The European Union wants to get its industrial groove back. The world’s largest trading bloc is scrambling to take part in the global cleantech race.
Explainers
Anca Gurzu 4 min read

Cleantech race risks sidelining developing countries

The global cleantech race underway between the United States, Europe and China could leave developing countries behind. The world’s major economies are competing to become industrial leaders in the burgeoning cleantech sector.
Latest News
Anca Gurzu 3 min read

Long-duration energy storage projects set for growth despite hurdles

Interest in long-duration energy storage (LDES) projects is growing around the world, but developers will struggle to scale the technology up cost effectively before 2030.
Data Dives
Anca Gurzu 2 min read
Graph of average duration of global energy storage systems

Energy security and federal climate funding to shape 2023

A historic 2022 will drive what happens this year. In our last December edition, we reflected on the five trends we predicted would shape 2022. This week, we’re looking at five trends we’re watching at Cipher in 2023.
Harder Line
Amy Harder 5 min read

War and new climate law make history in 2022

Every year since 2018, I’ve looked back and ahead at the trends shaping the past year and the year to come, including reality checks of my previous predictions. We’re keeping the tradition going.
Harder Line
Amy Harder 5 min read

Low-carbon power and electric vehicle investments drive path to net zero

The world needs to nearly triple investments in low-carbon electricity and carbon capture technologies in the power sector for a chance to reach net-zero emissions by 2050, according to a new report by BloombergNEF.
Data Dives
Anca Gurzu < 1
Graph of Global investment needs in the energy sector by 2050

As the world bakes, developing world scrambles to adapt

The world is not cutting emissions fast enough to slow climate change, leaving everyone—but especially developing nations—scrambling to adapt to a hotter planet and its extreme-weather consequences.
Latest News
Anca Gurzu 3 min read

How to unlock clean tech for the developing world

SHARM EL-SHEIKH, Egypt—A half day’s drive from this resort town where thousands are gathered at an annual climate gathering, one of the world’s biggest solar farms stands as a rare example of how clean energy can be financed and built in a developing country.
Latest News
Anca Gurzu 3 min read

Clean tech is not reaching the developing world fast enough

Not enough cash is flowing to clean energy technologies in the developing world, widening the investment gap between rich and poorer countries and hampering the energy transition.
Latest News
Anca Gurzu 4 min read

Clean energy investments on the rise, but boost needed for net zero path

Global clean energy investments need to triple between now and the end of the decade if the energy sector is to achieve net-zero emissions by 2050.
Data Dives
Anca Gurzu 2 min read
Chart of clean energy investments by year

Energy security and new laws fuel clean energy race

Nations are increasingly competing to establish themselves as pioneers of clean energy technologies, racing to boost energy self-sufficiency and green their economies.
Latest News
Anca Gurzu 3 min read

Looking back to move ahead: Lessons learned from cleantech 1.0

Conventional wisdom says cleantech 1.0 was a bust. In a nutshell, cleantech 1.0: Beginning in 2006, venture capitalists poured more than $25 billion into clean energy technologies.
Harder Line
Amy Harder 4 min read

Bending capitalism to fight climate change

Governments, corporations and nonprofits are coming up with novel ways to prod capitalism to help tackle—instead of fuel—climate change.
Harder Line
Amy Harder 3 min read

Collaboration could help tackle climate change faster, more affordably

When it comes to tackling climate change, the whole is greater than the sum of its parts.
Data Dives
Amy Harder < 1

Clean jet fuel could take off with new climate law

The U.S. government is for the first time in history singling out and subsidizing cleaner aviation fuel. Such a move is poised to help clean up one of the most high-profile ways our society contributes to climate change.
Harder Line
Amy Harder 4 min read

No energy access leaves millions scrambling for survival, says U.N. special rep

The world needs to drastically step up funding to end energy poverty or risk leaving millions of people in poor countries fighting for their lives.
Latest News
Anca Gurzu 3 min read

U.S. climate spending comes with a global perk: regained respect

The United States’ decision to pour hundreds of billions of dollars to prop up clean energy may have given the country more than what money can bring: an opportunity to renew its credibility at November’s international climate negotiations.
Latest News
Anca Gurzu 3 min read

Rocky path to wind growth offers cautionary tale for cleantech tax credits

The U.S. Congress’ on-again-off-again relationship with wind energy tax credits portends choppy roads ahead for all types of cleantech.
Data Dives
Amy Harder < 1

Europe’s solar goals caught up in high prices—and China

The European Union wants to ally with the sun to boost energy security and meet climate goals but soaring prices for essential raw materials could thwart those plans.
Latest News
Anca Gurzu 4 min read

Wind, solar can be main source of EU clean grid by 2035, report says

Wind and solar energy can become Europe’s dominant source of electricity as part of an almost entirely clean power system by 2035, according to a recent report by climate think tank Ember.
Data Dives
Anca Gurzu 2 min read

How EU aims to use clean hydrogen

The European Commission’s plan to help the 27-member bloc end its reliance on Russian fossil fuel imports includes a quick scale-up of renewable hydrogen production and use over the next several years.
Data Dives
Anca Gurzu < 1

Risky business: betting on climate tech in an uncertain world

For nearly 50 harrowing days (and counting), Ukrainians have risked their lives defending their homeland from Russia. For more than two years, all of us have weighed innumerable risks living through a relentless pandemic.
Harder Line
Amy Harder 3 min read

Corporate climate disclosure sees biggest annual percentage increase

The number of companies filing disclosure statements on climate change through CDP increased 36.5% between 2020 and 2021.
Data Dives
Amy Harder < 1

Urgency grows for obscure clean-energy tax provision

Tucked alongside more than $300 billion worth of clean-energy tax credits pending in Congress is an obscure but important provision whose supporters span the corporate gamut.
Harder Line
Amy Harder 3 min read

Five ways to make net zero happen

Governments increasingly understand the urgency of climate change. Ahead of and during COP26, the 2021 Glasgow climate summit, many have committed to zero carbon emissions by mid-century.
Voices
Sam Frankhauser 2 min read

Why the government needs to speed up our energy transition

To summarize almost 200 years of the developed world’s energy history in 20 words: Wood came first, and then coal was king, and now oil and natural gas are dominating energy consumption today.
Harder Line
Amy Harder 3 min read

Lofty climate-change goals risk becoming empty promises

An overlapping mix of corporate pledges, investment fervor and government targets risk setting us up for a dangerous phase in the quest to tackle climate change.
Harder Line
Amy Harder 4 min read

Carbon recycling pioneer LanzaTech eyes going public

LanzaTech is not a household name, but the company’s technology is helping clean up household items.
Q&A
Amy Harder 3 min read

Looking back and ahead: climate tech trends in 2021 and 2022

Much like the curve of the Earth you can’t see from the ground, we’ve embarked on a curve in energy and climate history.
Harder Line
Amy Harder 5 min read

Record-breaking cleantech investments

The infrastructure law and the still-pending Build Back Better bill would inject record-breaking amounts of federal funding into energy research, development and deployment.
Data Dives
Amy Harder < 1

Private sector leads in financing for climate action

Private-sector investments are projected to far exceed public-sector investments in a world drastically cutting greenhouse gas emissions, according to the International Energy Agency.
Data Dives
Amy Harder < 1

Finance ministers urged to fill central role in climate debate

Environment ministers have long taken center stage when it comes to the annual United Nations climate change negotiations.
Harder Line
Amy Harder 3 min read

Record-breaking investments going into climate since Paris Agreement

A record nearly $30 billion of venture capital money has gone into climate-change technologies so far this year, according to an exclusive sneak peak of a forthcoming report by PitchBook.
Data Dives
Amy Harder < 1
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