Investments are driven by a record 40% y/y growth in residential/commercial and industrial (C&I) solar installations in 2022 to 5.9 GW. The surge in installations is primarily due to amendments to the federal tax credit, which was increased from 26% to 30% and extended until 2032 under the IRA. Additionally, low financing costs and the rising need to curb power bills have contributed to the surge in installations and attracted investments in the segment.
Sunrun's $600mn loan, SunPower's $450mn debt, and Navisun's $235mn facility represent the largest debt financings in the segment since 2022. Meanwhile, Agilitas Energy's $350mn equity raise, Aspen Power's $350mn capital raise, and Electriq Power's $300mn fundraising represent the largest equity investments.
The above analysis is proprietary to Enerdatics’ energy analytics team, based on the current understanding of the available data. The information is subject to change and should not be taken to constitute professional advice or a recommendation.
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