In the second quarter of 2026, actual investment in US clean technology manufacturing increased 4% quarter-on-quarter to $8 billion, breaking a six-quarter streak of consecutive declines. Investment remained 24% below Q2 2025 levels. New project announcements in Q2 2026 rose sharply to $10 billion, more than five times the $2 billion in the previous quarter, largely driven by solar manufacturing projects. Canceled investment increased 4% quarter-on-quarter to $1.7 billion in Q2 2026.
Overview of manufacturing technologies in Q2 2026
The electric vehicle (EV) supply chain—critical minerals, batteries, vehicle assembly, and charging equipment—continued to dominate manufacturing investment in Q2 2026, accounting for 88% of total manufacturing investment at around $7 billion. EV investment remained relatively flat quarter-on-quarter at $2 billion, while battery investment increased by 2% to $5 billion. Compared to the same period last year, EV investment was up 19%, while battery manufacturing investment was down by 34%. Investment in critical minerals projects increased 9% from the previous quarter to roughly $500 million, but was down 3% from Q2 2025. Investment in fueling equipment declined sharply, dropping 90% quarter-on-quarter and 96% compared to Q2 2025.
Outside the EV supply chain, investment in solar manufacturing increased 30% relative to Q1 2026 to nearly $1 billion, but remained 19% below Q2 2025 levels. Investment in wind manufacturing declined 62% quarter-on-quarter and 59% compared to Q2 2025 to a negligible level.
Announced investment across all manufacturing technologies totaled more than $10 billion in Q2 2026, the highest quarterly value in more than two years. This represented an $8 billion increase from Q1 2026 and more than double the value announced in Q2 2025. Solar manufacturing projects accounted for 77% of announcements this quarter at around $8 billion. Critical mineral projects followed at roughly $2 billion, while announced battery manufacturing investment totaled $500 million. No new wind or EV assembly projects were announced during this quarter.
Canceled investment totaled $1.7 billion in Q2 2026, up 4% from the previous quarter's $1.6 billion. Solar manufacturing projects accounted for more than $1 billion of the total, with the remainder coming from EV assembly projects at around $500 million.
The Clean Investment Monitor's Q2 2026 US manufacturing data is now available on ClimateDeck, Rhodium Group's free interactive data platform. Our full US Q2 2026 data update, including tracking the deployment of clean technologies, will be available in August.