Corporate Funding in Global Solar Sector Falls 13% to $24.1 Billion in 2022: Report

Corporate Funding in Global Solar Sector Falls 13% to $24.1 Billion in 2022: Report

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According to a Mercom Capital report, corporate funding for the global solar sector fell 13% year-on–year to $24.1 billion by 2022.


Venture capital and private equity (VC, PE), debt financing and public market financing are all examples of corporate funding.


The global clean energy consultancy firm stated that total corporate funding for 2022 (first nine month) was $24.1 billion. This is 13% less than the $27.8 billion raised in 2021.

VC funding activity increased 56% to $7 billion in 2022, compared to $4.5 billion in 2021.

Indian solar module manufacturer Waaree Energies raised $122.6 million from high-net-worth individuals and private offices. Solar start-up SolarSquare raised $12 million in Series A funding, led by Elevation Capital, Lowercarbon, Chris Sacca’s climate fund.

The debt financing market was $12 billion in 2022. This is a 24% decrease compared to the $15.8 billion that was raised in 2021.

Orb Energy, a domestic company, received a follow-up loan of $20 million from the U.S. International Development Finance Corporation in support of its ground-mounted solar customers in India.

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Global public market financing was $5.1 billion in 2022, which is 32% less than the $7.5 billion recorded in 2021. In 2022, 128 transactions were made through mergers and acquisitions (M&A).

“The conflict in Ukraine has increased demand for solar energy around the globe and the Inflation Reduction Act in the USA has helped the sector. “We saw record venture capital funding and private equity funding in 2022. Solar companies were bought in record numbers and solar projects had their second best year of acquisitions,” Raj Prabhu CEO, Mercom Capital Group, said.

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