Corporate funding of the solar industry -- including venture capital, public market, and debt financing -- increased 190% globally through the third quarter of 2021, according to new analysis by Mercom Capital Group.

The report details 112 deals worth $22.8 billion in total corporate funding in the first nine months of 2021. There were 72 deals worth $7.9 billion over the same period last year.

Read more: 10 largest solar projects completed in the U.S. so far in 2021

"This will end up as one of the best years for solar financing since 2010," said Mercom Capital Group CEO Raj Prabhu. "As the push toward the energy transition picks up speed worldwide, solar – one of the mature renewable energy resources – is benefitting enormously. Solar project acquisitions in the first nine months of 2021 have already surpassed all of 2020."

Global VC funding of solar decreased slightly in Q3, but is up 224% year-over-year with $593 million across 13 deals.

5.

4. Intersect Power $127 million

3. Nexamp $240 million

2.

1. Loanpal $800 million

Public market financing of the solar sector also increased through the first nine months of 2021: $6.3 billion across 23 deals compared to $2 billion in 10 deals over the same period last year. There were seven IPO and SPAC deals announced in 9M 2021, according to Mercom.

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