China is widening its lead in global clean tech, raising new security concerns.

An analysis of $1.1 trillion in global clean energy manufacturing investments between 2019 and 2025 by the research firm Atlas Public Policy found that more than half were made by Chinese companies.

Out of China’s more than $500 billion in total investment, about $136 billion went into clean tech factories outside its borders, an indication of its strategy to enter new markets and dodge trade barriers.

The US, by contrast, saw about $236 billion in total announced investments, of which only 40% came from US companies, “showing the US dependence on foreign direct investment for its manufacturing sector,” the analysts wrote.

But while China’s global clean energy push is a boon to its economy and could help other countries weather increasing fossil fuel price volatility, it comes with risks: A separate report this week co-authored by a former UK security official warned that “over the long term, Europe’s trade deficit with China will widen and Chinese leverage will strengthen,” and that “perhaps the most overlooked national security risk arising from Europe’s use of Chinese low-carbon technology comes not from the technology itself, but from the US’s likely hostile response to those who embrace it.”