Mercom Capital Group has released its annual report on funding and M&A activity for the solar sector, finding that total corporate funding, including from VC, public market and debt financing, increased 42% year-over-year in 2023.
The report further found $34.3B was raised in 160 deals, compared to $24.1B in 175 deals the previous year. Almost 45.4 GW of large-scale projects were acquired in 2023, with 35% of these being acquired by project developers and IPPs. Investment firms acquired 23%, followed by utilities with 17% of acquisitions.
“Investments into solar continue to defy expectations,” says Raj Prabhu, Mercom Capital Group CEO. “Despite high-interest rates and challenging market conditions, corporate funding in the sector was the highest in a decade. Debt financing also hit a decade high, and venture capital investments and public market financing recorded the second-highest amounts since 2010. Driven by the Inflation Reduction Act, the global focus on energy security and favorable policies worldwide, solar continues to attract significant investments.”
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Mercom Reports Solar Companies Raise $34.3B in 2023 Corporate Funding
It depends on what you believe.
Fox News will tell you that our southern border is no longer being overrun, that we’ve discovered that vaccinations are unsafe, that we’re standing up against Sharia Law, we’re preventing Iran from building a nuclear weapon, prices are coming down (or soon will be), Trump is an honest and effective servant of the American people and that the U.S. is once again respected on the world stage.
We live in a country where tens of millions of idiots believe every word of this.
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I met a guy today from a rural part of Central England–“nothing but farms and pubs,” as he put it. His father was an epidemiologist working for the United Nations, and so, as a boy, he lived all over the world and grew up largely in developing countries that suffered from horrific diseases.
He and his wife had the conversation one would expect from such people:
- Why are we so content to ignore climate change that is ruining our planet?
- Why are people so indifferent to the suffering of others?
- How is it possible that billionaires expect to live well here on Earth while 99.9% of us suffering with wildfires, devastating storms, blistering heat, losses of landmasses, and desertification?
- At the end of the day, is money really that precious?
Obviously, not everyone thinks this way, but to be in something of a “lovefest” for just a few minutes was a great relief.
relief.
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