Venture Capital Funding in Solar Jumps 56% with $7 Billion in 2022, Reports Mercom Capital Group
Mercom Capital Group, a global clean energy communications and consulting firm, released its annual report on funding and merger and acquisition ( M&A ) activity for the solar sector in 2022.
- Mercom Capital Group, a global clean energy communications and consulting firm, released its annual report on funding and merger and acquisition ( M&A ) activity for the solar sector in 2022.
- Total corporate funding worldwide in the solar sector, including venture capital and private equity (VC), debt financing, and public market financing, came to $24.1 billion in 2022, a decline of 13% compared to $27.8 billion in 2021.
- In 2022, we saw record venture capital and private equity funding; solar companies were acquired in record numbers; and solar projects saw its second best year for acquisitions,” commented Raj Prabhu, CEO of Mercom Capital Group.
- Of the $7 billion in VC funding in 90 deals in 2022, $5.9 billion (84%) went to 62 Solar Downstream companies.