Mercom’s latest global corporate solar funding report shows debt financing and public market fundraising drove overall solar funding in H1 2026
Corporate M&A activity and large-scale solar project acquisitions both increased compared to the same period last year
While VC funding value declined sharply, investors continued to back downstream solar companies and several large fundraising rounds
Global corporate funding for the solar sector rose 56% year-over-year (YoY) to $16.9 billion in H1 2026, driven by strong debt financing and public market activity, says Mercom Capital Group. In H1 2025, the total corporate funding dropped by 39% YoY to $10.8 billion (see Global Solar Corporate Funding Drops 39% YoY In 1H 2025).
The growth was despite a decline in venture capital (VC) investment, according to Mercom Capital Group's 1H and Q2 2026 Solar Funding and M&A Report. The period also recorded higher merger and acquisition (M&A) activity and an increase in large-scale solar project acquisitions.
During the reporting period, VC funding fell 40% YoY to $1.5 billion across 35 deals, compared to $2.5 billion raised through 32 deals in the corresponding period of 2025. While the total funding value declined, the number of deals increased. Solar downstream companies accounted for $884 million across 22 VC deals during the period.
The largest VC funding rounds included Inox Clean Energy with $343 million, followed by Nexamp at $180 million, Clean Max Enviro Energy Solutions at $165 million, Amarenco at $150 million, and GREW Solar at $118 million.
Public market financing reached $2.2 billion through 17 deals, a 371% increase from $467 million raised across five deals in H1 2025.
Announced debt financing totaled $13.2 billion across 44 deals, up 69% from $7.8 billion raised through 41 deals in the corresponding period in 2025.
The Mercom report also tracked three securitization deals worth $540 million, down 66% from four deals totaling $1.6 billion the previous year.
M&A activity also strengthened during the period, with 57 corporate transactions recorded in H1 2026, compared to 50 transactions in the same period last year.
The complete report can be purchased on Mercom’s website for prices starting from $299.
