The solar energy industry in the US is an evolving sector focused on harnessing sunlight to generate electricity and heat. It includes companies involved in solar panel manufacturing, installation, and maintenance, along with those developing cutting-edge solar technologies. As the demand for clean energy rises, innovations such as solar storage solutions and integrated systems are becoming more prominent. The industry is crossing benchmarks, with solar capacity reaching significant milestones, and is expected to continue growing as advancements drive costs down, making solar energy more accessible to households and businesses alike. Sustainable practices contribute to environmental goals, enhancing its appeal further.


The investors profiled include a mix of venture capital firms, private equity groups, and government entities. Headquartered across key cities like San Francisco and New York, these firms vary in size from small, nimble organizations to large, established corporate giants. Founded between 1956 and 2023, they collectively made over 2,200 investments related to solar energy in 2024. This array of investors illustrates varying strategies and focuses, from funding early-stage startups to large-scale project financing, marking a dynamic space that supports solar industry growth.


Top 14 Solar Energy Investors in the US


1. U.S. Department of Energy (DOE)

  • Website: energy.gov
  • Type: Corporate
  • Headquarters: Washington, D.C., District Of Columbia, United States (USA)
  • Founded year: 1977
  • Headcount: 10001+
  • Number of deals in 2024: 597
  • LinkedIn: u-s--department-of-energy

The U.S. Department of Energy (DOE) is a public entity established in 1977, located in Washington, D.C. It is responsible for overseeing national energy policy, energy production, and nuclear power research. The DOE serves various stakeholders, including government entities and the public, by providing guidance on energy efficiency, funding opportunities, and conducting research to address energy challenges. In the context of solar energy, the DOE has been involved in several significant transactions, including grants to solar companies such as GAF Energy, which raised $1.6 million in May 2024, Mosaic, which received $2 million in June 2012, and Nanosolar, which secured $20 million in September 2007. These transactions highlight the DOE's role in supporting the development and deployment of solar energy technologies.


2. IFC - International Finance Corporation

  • Website: ifc.org
  • Type: Venture Capital
  • Headquarters: Washington, D.C., District Of Columbia, United States (USA)
  • Founded year: 1956
  • Headcount: 1001-5000
  • Number of deals in 2024: 107
  • LinkedIn: ifclinkedin

The International Finance Corporation (IFC) is a not-for-profit organization established in 1956, focused on private sector development in emerging markets. Based in Washington, D.C., the IFC provides investment, advisory, and asset management services to businesses and financial institutions, helping them access capital and expertise to foster economic growth. With operations in over 100 countries, the IFC addresses challenges of poverty and promotes sustainable development. Notably, the IFC has been involved in significant transactions within the solar energy sector, including multiple investments in Azure Power, a leading solar energy company. These transactions include a Series B investment of $10 million in March 2010, a Series C investment of $13.6 million in November 2011, and subsequent post-IPO debt transactions totaling over $135 million in June 2018 and $30.8 million in October 2017. These activities highlight the IFC's active role in financing solar energy projects and its commitment to advancing renewable energy solutions.


3. Y Combinator

  • Website: ycombinator.com
  • Type: Venture Capital
  • Headquarters: San Francisco, California, United States (USA)
  • Founded year: 2005
  • Headcount: 51-200
  • Number of deals in 2024: 802
  • LinkedIn: y-combinator

Y Combinator is a prominent startup accelerator and venture capital firm based in San Francisco, California, founded in 2005. It provides funding and mentorship to early-stage technology companies through a structured program that includes resources like the Startup School and co-founder matching services. Y Combinator has successfully launched over 4,000 startups, making it a key player in the technology startup ecosystem. Among its diverse portfolio, Y Combinator has made notable investments in the solar energy sector, including SolarMente, which raised $125,000 in a Pre-Seed round in August 2021, and SunFarmer, which secured $120,000 in a Pre-Seed round in March 2016, as well as additional funding in a Seed round in August 2015. Furthermore, Y Combinator participated in a funding round for Oolu, a Senegalese solar startup, which raised $3.2 million in October 2017, showcasing their commitment to supporting solar energy initiatives in emerging markets. These transactions highlight Y Combinator's active role in fostering innovation within the solar energy industry.


4. Breakthrough Energy


Breakthrough Energy is a not-for-profit organization founded in 2015, based in Kirkland, Washington, dedicated to accelerating the transition to a net-zero economy. They support innovative technologies and advocate for policies that promote clean energy solutions. Their investment portfolio includes significant contributions to solar energy initiatives, such as a $9 million investment in Arnergy, a Nigerian renewable energy startup focused on providing solar power to SMEs, and a $25 million investment in CubicPV, which is developing a 10 GW solar wafer manufacturing unit in the United States. Additionally, they have invested in 1366 Technologies, which is involved in solar technology development. These transactions highlight Breakthrough Energy's active role in the solar energy sector, making them a key player in the clean energy landscape.


5. Elemental Impact


Elemental Impact is a not-for-profit organization based in Honolulu, Hawaii, founded in 2012. Their primary focus is on scaling climate technologies that have a significant community impact. They provide funding opportunities, community engagement strategies, and educational resources to support climate technology companies and local governments in deploying sustainable solutions. In the solar energy context, Elemental Impact has been involved in several relevant transactions, including a seed round investment in Geli, which specializes in solar energy software, and a venture round investment in Heliogen, a company that utilizes solar energy for industrial applications. They also provided grants to Solstice, which aims to increase access to solar energy, and Sighten, which offers software solutions for solar project management. Their recent investment in SunFi through a convertible note further emphasizes their ongoing commitment to supporting solar energy initiatives.


6. Kkr

  • Website: kkr.com
  • Type: Private Equity
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 1976
  • Headcount: 1001-5000
  • Number of deals in 2024: 74
  • LinkedIn: kkr

KKR & Co. Inc. is a prominent investment firm based in New York, specializing in private equity, credit, infrastructure, and real estate. Founded in 1976, KKR has built a reputation for providing asset management solutions to institutional investors and individual clients. In recent years, KKR has made significant strides in the solar energy sector, highlighted by their investment in Sol Systems and a $300 million credit facility to Origis Energy for solar and storage project development. Additionally, KKR's acquisition of a majority stake in Avantus, a California-based solar and storage developer, showcases their commitment to expanding their portfolio in renewable energy. These transactions reflect KKR's strategic focus on supporting the growth of solar energy initiatives while leveraging their extensive expertise and resources to achieve strong financial returns for their clients.


7. Goldman Sachs

  • Website: goldmansachs.com
  • Type: Private Equity
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 1998
  • Headcount: 10001+
  • Number of deals in 2024: 59
  • LinkedIn: goldman-sachs

Goldman Sachs is a prominent investment bank and financial services firm based in New York, New York, founded in 1998. It provides a wide range of services including investment banking, asset management, and wealth management, catering to a diverse clientele that includes corporations, financial institutions, and individuals. In the context of solar energy, Goldman Sachs has demonstrated its commitment through various transactions. For instance, they were involved in a Series B investment in Suntech Power, a leading solar manufacturer, raising nearly $10 million in 2005. Additionally, they provided $175 million in debt financing to Sunnova, a residential solar service provider, in 2016. More recently, they participated in a post-IPO debt transaction for Nofar Energy, raising over $192 million in 2024. These transactions highlight Goldman Sachs' active role in supporting the solar energy sector, making them a relevant investor in this industry.


8. Deep Tech Fund (an Alumni Ventures Fund)

  • Website: av.vc
  • Type: Venture Capital
  • Headquarters: Manchester, New Hampshire, United States (USA)
  • Founded year: 2023
  • Headcount: 51-200
  • Number of deals in 2024: 258
  • LinkedIn: deep-tech-fund-av-focused-fund

Deep Tech Fund (an Alumni Ventures Fund) is a venture capital firm based in Manchester, New Hampshire, founded in 2023. It provides accredited investors and institutions with access to professionally-managed, diversified venture portfolios, leveraging a network of over 10,000 investors to connect them with high-quality investment opportunities in the startup ecosystem. The fund has been involved in significant transactions in the solar energy sector, including investments in Sighten, a leading solar software provider that raised $3.5 million in Series A and $1.5 million in Seed funding, and Omnidian, which raised $87 million in Series C funding. These investments highlight the fund's engagement with innovative companies in the solar industry, supporting advancements in solar technology and services.


9. MassVentures

  • Website: mass-ventures.com
  • Type: Venture Capital
  • Headquarters: Waltham, Massachusetts, United States (USA)
  • Founded year: 1978
  • Headcount: 1-10
  • Number of deals in 2024: 28
  • LinkedIn: massventures

MassVentures is a venture studio based in Waltham, Massachusetts, founded in 1978. It specializes in supporting early-stage companies, particularly those focused on deep tech innovation. The firm provides a variety of funding options, including venture capital and grants, along with business guidance and accelerator programs. Notably, MassVentures has been involved in several transactions relevant to the solar energy sector, such as providing grants to PowerHouse and Solablock, both of which are engaged in solar energy initiatives. In 2024, they also supported Active Surfaces with a grant, further demonstrating their commitment to fostering innovation in this field. Their recent seed round investment in AeroShield, which raised $5 million, indicates a willingness to back promising technologies that could potentially intersect with solar energy applications.


10. Los Angeles Cleantech Incubator


The Los Angeles Cleantech Incubator (LACI) is a not-for-profit organization founded in 2011, dedicated to fostering an inclusive green economy. Based in Los Angeles, California, LACI supports cleantech startups through various programs, including business acceleration and funding opportunities, while also providing workforce development initiatives aimed at underrepresented groups. LACI has been involved in several transactions relevant to the solar energy sector, including investments in Pick My Solar, which focuses on solar energy solutions, and Leap Photovoltaics, a company engaged in photovoltaic technology. Additionally, LACI has supported other cleantech startups like CZAR-Power and Ashipa Electric, further emphasizing its commitment to sustainable technologies and practices.


11. Sosv

  • Website: sosv.com
  • Type: Venture Capital
  • Headquarters: United States (USA)
  • Founded year: 1995
  • Headcount: 51-200
  • Number of deals in 2024: 170
  • LinkedIn: sosv

SOSV is a venture capital firm founded in 1995, specializing in funding and supporting deep tech startups through its development programs. With a focus on health and climate technology, SOSV operates globally, connecting innovative companies with investors. Among their notable transactions, they invested in Solano Energy, which raised an undisclosed amount in a Pre-Seed round in February 2023, highlighting their engagement in the solar energy sector. This investment, along with their broader commitment to climate technology, positions SOSV as a relevant player in the solar energy investment landscape.


12. Energy Impact Partners


Energy Impact Partners (EIP) is a venture capital firm based in New York, founded in 2015, that specializes in the energy sector with a focus on sustainable energy solutions. EIP collaborates with entrepreneurs and corporate partners to foster innovation in clean energy technologies, providing both capital and strategic guidance to its portfolio companies. Notably, EIP has been involved in significant transactions within the solar energy context, including a €100 million Series C funding round for zolar, a Berlin-based company that focuses on digital energy products, and an investment in Ion Solar, which is directly involved in solar energy solutions. Additionally, EIP's investment in myenergi, a manufacturer of smart energy technology, supports the development of products that can enhance energy efficiency and sustainability. These transactions highlight EIP's commitment to advancing the solar energy sector and its broader mission of promoting sustainable energy solutions.


13. Morgan Stanley

  • Website: morganstanley.com
  • Type: Venture Capital
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 1986
  • Headcount: 10001+
  • Number of deals in 2024: 79
  • LinkedIn: morgan-stanley

Morgan Stanley is a prominent investment bank and financial services firm based in New York, founded in 1986. It offers a wide range of services, including wealth management, investment banking, and capital markets. With a global presence and a workforce of over 10,000 employees, Morgan Stanley leverages its expertise to provide tailored financial solutions to individuals, families, corporations, and governments. In the context of solar energy, Morgan Stanley has been actively involved in financing significant projects, such as the $520 million project financing for Energix Renewables, which includes funding for six utility-scale solar projects in Virginia and Pennsylvania. Additionally, they have participated in debt financing for Recurrent Energy, raising $415 million to support solar initiatives. These transactions highlight Morgan Stanley's engagement in the renewable energy sector, particularly solar energy, showcasing their role as a key investor in this industry.


14. Chevron

  • Website: chevron.com
  • Type: Corporate
  • Headquarters: Houston, Texas, United States (USA)
  • Founded year: 1999
  • Headcount: 10001+
  • Number of deals in 2024: 16
  • LinkedIn: chevron

Chevron Corporation is an energy company based in Houston, Texas, specializing in oil and natural gas exploration, production, and distribution. Founded in 1999, Chevron has a workforce of over 10,000 employees and operates globally, focusing on sustainable practices to meet the world's energy demands. In addition to their core business, Chevron has made significant investments in renewable energy solutions. Notably, they invested in Konarka Technologies, which raised $45 million in Series F funding in 2007 and $9.5 million in Series B funding in 2002, both aimed at advancing solar energy technology. Furthermore, Chevron participated in a financing round for Baseload Capital, which raised $24 million in 2022 and is focused on geothermal energy projects. These transactions highlight Chevron's commitment to exploring and investing in renewable energy technologies, including solar energy.



Solar Energy Insights: Key Investors in the US


InvestorHeadquarterSizeFoundedDeals 2024
U.S. Department of Energy (DOE)Washington, D.C., District Of Columbia, United States (USA)10001+1977597
IFC - International Finance CorporationWashington, D.C., District Of Columbia, United States (USA)1001-50001956107
Y CombinatorSan Francisco, California, United States (USA)51-2002005802
Breakthrough EnergyKirkland, Washington, United States (USA)51-200201538
Elemental ImpactHonolulu, Hawaii, United States (USA)51-200201219
KkrNew York, New York, United States (USA)1001-5000197674
Goldman SachsNew York, New York, United States (USA)10001+199859
Deep Tech Fund (an Alumni Ventures Fund)Manchester, New Hampshire, United States (USA)51-2002023258
MassVenturesWaltham, Massachusetts, United States (USA)1-10197828
Los Angeles Cleantech IncubatorLos Angeles, California, United States (USA)51-20020112
SosvUnited States (USA)51-2001995170
Energy Impact PartnersNew York, New York, United States (USA)51-200201527
Morgan StanleyNew York, New York, United States (USA)10001+198679
ChevronHouston, Texas, United States (USA)10001+199916


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