Investment in energy storage and smart grid increase y-o-y by 66%, says Mercom Capital

27 Oct 2022 , 07:33 AM

According to a Mercom Capital analysis, investments in energy storage and the smart grid increased by 66% year over year to a record $25 billion in the period between January and September of this year. Venture capital, debt financing, and public market financing are all included in the funding.

The global renewable energy consulting business stated in the report released on Wednesday that total corporate funding for energy storage, smart grid, and efficiency startups in 9M 2022 was a record $25 billion compared to $15.1 billion raised in 9M (January-September) 2021.

The energy storage market received $22 billion in investment through 92 acquisitions between January and September 2022. Compared to the $13 billion raised in 74 agreements in the same period last year, this represents an increase of 69%. The rest were created in the fields of energy efficiency and smart grids.

Energy storage firms are positioned to play a crucial part in the switch from fossil fuels to renewables, according to Raj Prabhu, CEO of Mercom Capital, who talked to ET and predicted that investments will continue to climb. ReNew Power has disclosed cooperation with twelve foreign lenders for external commercial borrowings totalling $1.1 billion as one of the deals.

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