Connect with us

Hi, what are you looking for?

CleanTechnica

Clean Power

Corporate Solar Funding = $25.3 Billion In 2015

Originally published on Solar Love.

According to a report from Mercom Capital Group, the amount of global corporate funding in the solar sector in 2015 was $25.3 billion. This figure was down slightly from $26.5 billion in 2014. Some of funding sources were: debt financing, public market financing, yieldcos, and venture capital/private equity (VC).

solarmarcom

“Overall it was a good year for the solar sector considering the turbulence in the stock markets and trouble with yieldcos in the 2nd half of the year. The extension of the Investment Tax Credit (ITC) was a much needed boost for the sector, paving the way for a strong 2016,” explained Raj Prabhu, CEO of Mercom Capital Group.

So where did the money go?

Debt financing was linked with $18.3 billion and Solar City, AES, BBOXX, and Sunrun are examples of companies with securitization deals. Large-scale project funding accounted for about $11.6 billion and 6.6 GW of solar power capacity. There were 38 public market financing deals and they raised almost $6 billion. 

$727 million of the $1 billion raised by venture capital went to solar downstream companies. Over $170 million went to PV technology companies and $87 million went to “Balance of Systems” companies.

One of the more fascinating developments was that over $100 million was for off-grid markets in India, Africa, and South Asia.

Some of the top venture capital deals in  2015 were:

  • $300 million, Sunnova Energy
  • $105 million, Silicor Materials
  • Sunlight Financial, $80 million
  • Sungevity, $50 million
  • Conergy, $45 million.

The facts produced by the report are intriguing because they show that the solar power industry is doing well, though economic conditions are still challenging overall. Imagine if there had been no global recession in 2008 and for the last 8 years solar power had been able to grow in an unimpeded way.

The Investment Tax Credit was recently renewed in the United States, but if there had been no concern or uncertainty about its renewal, would the solar power industry have experienced no cause for pause?

It seems that solar power will continue to expand because of its own robustness and as the global economy becomes more welcoming to it.

Image Credit: vinaykumar8587, Wiki Commons

 
Appreciate CleanTechnica’s originality and cleantech news coverage? Consider becoming a CleanTechnica Member, Supporter, Technician, or Ambassador — or a patron on Patreon.
 

Don't want to miss a cleantech story? Sign up for daily news updates from CleanTechnica on email. Or follow us on Google News!
 

Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.
Advertisement
 
Written By

Hello, I have been writing online for some time, and enjoy the outdoors. If you like, you can follow me on Twitter: https://twitter.com/JakeRsol

Comments

You May Also Like

Batteries

Driving on sunshine. Driving on sunlight. That’s the dream that has become a reality for millions of people in the past decade. Powering one’s...

Clean Power

Solar power + electric cars = the perfect combination!

Clean Transport

The Home Integration System that allows a Ford F-150 Lightning to serve as a backup power source has been priced.

Clean Power

National Homebuilder Partners with Ford to Create the “Home of the Future” on Innovation Way PulteGroup, one of the nation’s largest homebuilders, has built...

Copyright © 2021 CleanTechnica. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.