The solar power industry in the US is pivotal in the shift towards sustainable energy. This sector encompasses developers, manufacturers, and service providers, offering solutions from solar panels to energy storage systems. With an increasing focus on renewable resources, solar energy has garnered support for its potential to reduce carbon footprints and promote energy independence. Notably, advancements in technology and declining costs have fueled rapid growth. By the end of 2024, solar represented a significant fraction of new energy additions in the country, reflecting its critical role in a greener future and an opportunity for investors.


The investors listed here include corporate entities, venture capital firms, and private equity players, all actively shaping the solar investment landscape. Headquartered across key regions like New York, California, and Washington, these investors range in size from small startups to large organizations with over 10,000 employees. Companies founded from 1976 to 2023 have participated in 2024, with notable deal counts indicating their commitment to solar energy. Their activities reflect a growing interest in sustainable investments and the potential profitability of the solar sector.


Top 18 Solar Power 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 power, the DOE has been involved in several relevant transactions, such as providing a grant of $1.6 million to GAF Energy in May 2024, which focuses on solar energy solutions. Additionally, the DOE previously awarded a $20 million grant to Nanosolar in September 2007, supporting the development of solar technology. These transactions highlight the DOE's active role in promoting and funding solar energy initiatives, making it a significant player in the solar power sector.


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, dedicated to fostering private sector development in emerging markets. Based in Washington, D.C., IFC provides investment, advisory, and asset management services to businesses and financial institutions, helping them access capital and expertise to promote economic growth. IFC operates in over 100 countries, addressing poverty and promoting sustainable development. Notably, IFC has been involved in significant transactions within the solar power sector, including multiple investments in Azure Power, a leading solar power 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 investments highlight IFC's commitment to supporting renewable energy initiatives, particularly in solar power, making it a relevant player in this investment category.


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 helps entrepreneurs launch and grow their businesses. 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 invested in several solar power-related companies, including SolarMente, which raised $125,000 in a Pre-Seed round in August 2021, and Oolu, a Senegalese solar startup that secured $3.2 million in a Series A round in October 2017, as well as earlier investments in Oolu during its Seed round in August 2015. Additionally, Y Combinator invested in SunFarmer, which raised funds in both Pre-Seed and Seed rounds in 2015 and 2016. These transactions highlight Y Combinator's engagement in the solar power sector, showcasing their support for innovative solutions in renewable energy.


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 the solar power sector, such as a $9 million investment in Arnergy, a Nigerian renewable energy startup focused on providing solar energy to SMEs, and a $44 million Series B financing round for Terabase Energy, which aims to enhance the scalability and cost-effectiveness of solar power through digital and robotic automation. Additionally, they have invested in Planted Solar and 1366 Technologies, further emphasizing their commitment to solar energy innovation. Breakthrough Energy serves businesses and organizations in the clean energy sector, providing funding, research support, and policy advocacy to combat climate change.


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 recent years, Elemental Impact has been involved in several transactions relevant to the solar power sector, including investments in Heliogen, which raised funds for solar energy innovations, and Solar Analytics, which secured $4.75 million in Series B funding to enhance solar energy analytics. Their involvement in these transactions highlights their commitment to addressing the funding gap for early-stage climate projects, particularly in the solar energy domain.


6. 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 power, Goldman Sachs has made notable investments such as a Series B investment in Suntech Power, which raised approximately $9.67 million in 2005, and a significant debt financing of $175 million for Sunnova in 2016. Additionally, they participated in a recent post-IPO debt transaction for Nofar Energy, raising over $192 million in 2024. These transactions highlight Goldman Sachs' active role in supporting the solar power sector, alongside their broader investment activities.


7. 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 established itself as a global leader in asset management, providing tailored solutions to institutional investors and individual clients. In the solar power sector, KKR has made notable investments, including a $300 million corporate credit facility to Origis Energy for solar and storage projects, showcasing their commitment to renewable energy. Additionally, KKR's acquisition of Encavis for over $3 billion and X-Elio further highlights their strategic focus on solar energy assets. These transactions reflect KKR's active role in supporting the growth of the solar industry while leveraging their extensive expertise and resources to achieve strong financial returns for their clients.


8. 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 by supporting cleantech startups through various programs, including business acceleration and funding opportunities. LACI has been actively involved in the cleantech sector, focusing on sustainable technologies and practices. Notably, LACI has participated in several transactions relevant to the solar power industry, such as: 1) Pick My Solar, which raised funds in a Pre-Seed round in July 2015; 2) CZAR-Power, which secured funding in a Seed round in April 2022; 3) SolarFi, which raised funds in a Pre-Seed round in September 2021. These transactions highlight LACI's commitment to supporting innovative solar energy solutions, making it a significant player in the solar power investment landscape.


9. 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

The 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. Notably, the fund has been involved in significant transactions in the solar power sector, including a Series A investment in Sighten, a solar software provider, which raised $3.5 million to enhance its platform. Additionally, the fund has invested in Arcadia, which has raised substantial funding to develop technology that empowers companies to monitor and act on their carbon impact, further indicating its engagement with sustainability and solar energy initiatives. Furthermore, the fund's investment in Point Load Power, although smaller, reflects its interest in innovative energy solutions.


10. 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 power sector, such as providing grants to PowerHouse and Solablock, both of which are engaged in solar energy initiatives. In 2024, they also participated in a seed round for AeroShield, indicating their interest in innovative technologies that may intersect with solar power. Overall, MassVentures plays a significant role in fostering startups that could contribute to advancements in the solar energy field.


11. Energy Impact Partners


Energy Impact Partners (EIP) is a New York-based venture capital firm founded in 2015, specializing in investments that promote the transition to sustainable energy. EIP collaborates with entrepreneurs and corporate partners to enhance innovation in clean energy technologies, providing both capital and strategic guidance. Notably, EIP has been involved in significant transactions within the solar power context, such as leading a €100 million Series C funding round for zolar, a company focused on digital energy products and solar solutions. They also participated in zolar's earlier Series B round, demonstrating a sustained interest in the solar sector. Furthermore, EIP's investment in myenergi, a manufacturer of smart energy technology, highlights their commitment to supporting innovations that can complement solar energy systems. Overall, EIP's portfolio reflects a strong alignment with the goals of advancing solar power and clean energy technologies.


12. 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 an investment bank and financial services firm founded in 1986, headquartered in New York, New York. The firm 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 power, Morgan Stanley has been actively involved in financing renewable energy projects. Notably, they participated in a $520 million financing deal for Energix Renewables to support six utility-scale solar projects in Virginia and Pennsylvania. Additionally, they have provided substantial debt financing to Recurrent Energy, raising $415 million, and have engaged in private equity rounds for DSD Renewables, further solidifying their role in the solar energy sector.


13. 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. In 2023, they invested in Solano Energy during a Pre-Seed round, highlighting their engagement in the solar power sector. Additionally, they have supported other startups like Seeder and Metal Light, which, while not exclusively solar-focused, contribute to the broader climate technology landscape. This diverse portfolio showcases SOSV's commitment to fostering innovation in sectors that include solar energy.


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 expanded its focus to include renewable energy solutions and carbon capture technologies. Notably, Chevron has invested in Konarka Technologies, a company that raised significant funding for solar energy technologies, with transactions in 2002 and 2007 totaling over $54 million. Additionally, Chevron Technology Ventures participated in a financing round for Baseload Capital, which, while primarily focused on geothermal energy, reflects Chevron's broader interest in sustainable energy solutions. Chevron's commitment to sustainable practices and its investments in innovative energy technologies position it as a forward-thinking player in the energy sector.


15. Government of Canada

  • Website: canada.ca
  • Type: Corporate
  • Headquarters: Canada, Kentucky, United States (USA)
  • Founded year: 1999
  • Headcount: 10001+
  • Number of deals in 2024: 137
  • LinkedIn: government-of-canada

The Government of Canada is a public entity that provides a wide range of services and information to Canadian citizens and residents, addressing various needs including employment, immigration, health care, and taxation. Founded in 1999, it operates through multiple departments and agencies to ensure access to essential services and support for individuals and businesses across the country. In recent years, the Government of Canada has also engaged in funding initiatives aimed at promoting clean technology and renewable energy. For instance, it participated in a Pre-Seed Round for SolarSteam Inc., raising $779,236 in May 2022. Additionally, it provided a grant of $3,525,000 to Nergica in January 2024, which focuses on renewable energy solutions. Other notable transactions include grants to Eocycle and Lynac Tile Equipment, further emphasizing its role in supporting the solar power sector and clean technology initiatives.


16. Blackstone

  • Website: blackstone.com
  • Type: Private Equity
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 1985
  • Headcount: 1001-5000
  • Number of deals in 2024: 57
  • LinkedIn: blackstonegroup

Blackstone Inc. is a leading investment management firm based in New York, specializing in alternative investments. Founded in 1985, the firm has built a reputation for delivering lasting value through its extensive portfolio and investment strategies. Blackstone has made notable investments in the solar power sector, including the acquisition of Vivint Solar in 2012, which marked its entry into the solar market. Additionally, Blackstone has played a significant role in funding Sunnova Energy Corp., contributing to its growth in the solar energy space. More recently, Blackstone Infrastructure Partners has invested nearly $4 billion in Invenergy, a company focused on renewable energy, further solidifying its commitment to the solar industry. Blackstone's participation in various funding rounds for solar companies, including Ion Solar, highlights its active engagement in the sector, making it a relevant player in the solar power investment landscape.


17. Plug and Play Tech Center


Plug and Play Tech Center is an innovation hub and venture capital firm based in Sunnyvale, California, founded in 2006. They connect startups with corporations to foster growth and innovation, offering various programs including accelerator initiatives and investment opportunities. In 2024, they have made 253 investments, showcasing their active role in the venture capital landscape. Notably, they have invested in several solar power companies, including Mona Lee Solar, which raised $3.25 million in a Seed Round in September 2023, and Solar Analytics, which raised $4.75 million in a Series B round in August 2018. Additionally, they participated in the Seed funding round for Sunsave, a solar subscription service, indicating their ongoing interest in the solar sector.


18. Climate Capital

  • Website: climatecapital.co
  • Type: Venture Capital
  • Headquarters: San Francisco, California, United States (USA)
  • Founded year: 2015
  • Headcount: 1-10
  • Number of deals in 2024: 17
  • LinkedIn: climatecap

Climate Capital is a venture capital firm based in San Francisco, California, founded in 2015. The firm specializes in supporting early-stage climate tech companies, providing funding and resources to entrepreneurs focused on emissions reduction and climate adaptation. Climate Capital emphasizes community building and access to a network of investors and industry experts to help founders scale their businesses effectively. Notably, Climate Capital has invested in Swift Solar, a company that has raised a total of $44 million in funding to develop innovative solar technology. This investment highlights Climate Capital's engagement in the solar power industry, alongside other climate tech initiatives such as Hohm Energy and Reflect Orbital, which further demonstrates their commitment to supporting sustainable energy solutions.



Solar Power 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
Goldman SachsNew York, New York, United States (USA)10001+199859
KkrNew York, New York, United States (USA)1001-5000197674
Los Angeles Cleantech IncubatorLos Angeles, California, United States (USA)51-20020112
Deep Tech Fund (an Alumni Ventures Fund)Manchester, New Hampshire, United States (USA)51-2002023258
MassVenturesWaltham, Massachusetts, United States (USA)1-10197828
Energy Impact PartnersNew York, New York, United States (USA)51-200201527
Morgan StanleyNew York, New York, United States (USA)10001+198679
SosvUnited States (USA)51-2001995170
ChevronHouston, Texas, United States (USA)10001+199916
Government of CanadaCanada, Kentucky, United States (USA)10001+1999137
BlackstoneNew York, New York, United States (USA)1001-5000198557
Plug and Play Tech CenterSunnyvale, California, United States (USA)501-10002006253
Climate CapitalSan Francisco, California, United States (USA)1-10201517


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