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Total corporate funding in the solar sector reached $11.1 billion across 53 deals in Q1 2026, a 131% increase year-over-year (YoY) compared to $4.8 billion raised through 39 deals in Q1 2025. Funding was also up 127% quarter-over-quarter (QoQ) from the $4.9 billion raised in 48 deals in Q4 2025.

Global VC funding for the solar sector in Q1 2026 came to $1.1 billion in 17 deals, a 21% decrease YoY compared to $1.4 billion raised in 14 deals in Q1 2025. Funding increased 74% QoQ compared to the $606 million raised in 20 deals in Q4 2025.

In Q1 2026, debt financing for the solar sector reached $8.9 billion across 28 deals, a 154% increase compared to the $3.5 billion secured in 23 deals in Q1 2025. On a QoQ basis, debt funding rose 162% from $3.4 billion across 20 deals in Q4 2025.

A total of 28 solar corporate M&A transactions were recorded in Q1 2026, a 47% increase compared to 19 transactions in Q1 2025, and up 33% compared to 21 solar M&A transactions in Q4 2025.

Approximately 18.4 GW of solar projects changed hands in Q1 2026, up from 13.6 GW in Q1 2025. On a QoQ basis, project acquisition volume also increased, compared to 8.4 GW in Q4 2025

There were 448 companies and investors covered in this 62-page report, which contains 56 charts, graphs, and tables.

Mercom Capital Group’s Quarterly Solar Funding and M&A Reports are comprehensive high-quality reports delivering superior insight, market trends, and analysis. These reports help bring clarity to professionals in the current financial landscape of the solar industry.

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Quarterly market and deal activity displayed in easy-to-digest charts, graphs, and tables, alongside data-driven analysis.

The report covers all types of deals and financing activity, including:

• Venture capital funding deals, including top investors, QoQ and YoY trends, and a breakdown of charts and graphs by technology, sector, stage, and country;
• Large-scale project funding deals, including top investors, QoQ and YoY trends and breakdown charts and graphs by technology and country;
• Public market financing, including equity financing, private placements, and rights issues;
• Debt and other funding deals, as well as QoQ and YoY trends;
• Third-party residential/commercial project funds;
• Large-scale project acquisitions and active project acquirers;
• Large-scale project announcements in various levels of development throughout the world;
• Mergers and acquisitions (M&A), including QoQ and YoY trends, a breakdown of charts and graphs by technology and sector, as well as project M&A activity;
• New cleantech and solar funds;
• Large-scale project costs per MW.

This report also contains comprehensive lists of all announced Q1:

• VC funding, debt financing, public equity financing, and project funding deals;
• VC and project funding investors;
• M&A transactions;
• Project acquisitions by amounts and megawatts;
• M&A, and project M&A transactions;

Mercom’s comprehensive report covers deals of all sizes across the globe. Have questions about the report? Email us here.