Global funding in solar sector touches decade high of $34bn

New Delhi: Global corporate funding in solar sector rose 42 per cent to $34.3 billion in 2023, supported by “favourable policies worldwide” and focus on energy security, according to Mercom Capital.

The total corporate funding includes venture capital (VC) funding, public market, and debt financing, the research firm said in a report on Monday. The $34.3 billion in 2023 is the highest in a decade, the ‘Mercom Annual and Q4 2023 Solar Funding’ report said. “The total corporate funding... into the solar sector, increased 42 per cent year-over-year (y-o-y) in 2023, with $34.3 billion raised in 160 deals, compared to $24.1 billion in 175 deals in 2022,” it said.