Investment Into EU Solar Startups Soars
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New research reveals total investment in European solar energy startups is up 398% compared to this time last year. Solar startups in Europe received USD 6 billion in backing in the first five months of 2023, compared with USD 1.2 billion raised by the same point in 2022.
Avnet Abacus, an electronics distributor, has produced the findings after analyzing Crunchbase data for companies listed in the solar energy category to provide insight on the level of funding going into the sector.
The average funding round for European solar startups in 2023 is at a record high of USD 166 million.
In other key findings by Avnet Abacus, globally investment in the solar sector is up 47%, with funding down 7% in the US so far this year.
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