INDUSTRY SPOTLIGHT

Solar Energy

Join an eco-friendly revolution within a promising and fast-evolving solar energy industry. Discover untapped opportunities and possible risks for business growth coupled with effective strategies to secure solar energy funding and leapfrog competitors.

Take a green ticket into your sustainable future today

The solar energy industry is riding a wave of rapid growth, driven by rising demand for clean energy, environmental benefits of renewables, and supportive government policies, such as ITC and RPS. As technology advances and the economy scales, the costs for solar panels are declining, making these products more affordable for consumers. Like this, the solar energy industry becomes more appealing to both startups and venture capitalists. The opportunities to capitalize on are abundant—residential solar installations, commercial and industrial solar solutions, utility-scale solar farms, off-grid solar projects, etc.—as well as the funds infusions ($7B was secured in 2022). But…

Breaking in requires heavy lifting

In a dog-eat-dog market, standing out is akin to climbing a mountain—risky and needs much power. The top players like First Solar, Enphase Energy, and JinkoSolar are arming themselves with innovative strategies and leveraging cutting-edge technology to maintain their market dominance. At the same time, over 2.7K startups are creating unique solutions, searching for the spots the leaders might’ve missed.

Plus, an impeccable fundraising game is a must. Research and development of solar energy solutions coupled with catching up with tech advancements may burn a hole in your pocket, varying from $1M to $100M. That’s why a smart approach to securing additional funds is key to addressing R&D and tech issues. Thus…

Coming up with a bright idea is just the first step

Having secured over $2B in funding, scouted for perfect M&A opportunities, crafted more than 600 flawless and visually attractive pitch decks, and driven growth of numerous ventures across over 80 industries—including the burgeoning solar energy sector—at Waveup, we know which steps to take further to turn your startup into a prosperous and profitable business. Get a glimpse of the industry by looking through our solar industry market research.

2x growth
The solar energy sector is expected to hit $435.4B by 2032, in contrast to 2023 $234.9B.

 

10%
Solar energy constituted 10% of the worldwide electricity production in 2022.

80%

The average cost of a solar panel has plummeted from $4 to $0.50 per kW.

4M

Jobs have been created within the solar energy sector.

26%

The US federal government offers a 26% tax credit for purchasing solar panels.

VENTURE LANDSCAPE

In 2022, the solar energy venture capital soared 312%, reaching $7B

Key verticals capital funding tends to concentrate:

  • Solar Panel Technology
  • Solar Energy Storage
  • Solar Software and Analytics
  • Solar Financing and Marketplaces

Leading solar energy venture capitals firms

Write to us to know more

WAVEUP VIEW

Obstacles solar energy startups overcome

The abundance of growth opportunities comes with a hefty price tag.

Managing high stakes

Solar energy is a sector where R&D costs are sky-high. Most companies pour substantial investment into manufacturing, installation, and maintenance of solar panels plus large land areas for solar farms. Among them are Heliogen, a solar energy company that raised over $700M in funding yet spent over $100M on R&D, and SunDrive, that invested more than $20M in R&D out of secured $100M. Thus, without leveraging governmental grants, collaborating with established players, and implementing robust fundraising strategies, companies may bite the dust as it once happened to Solyndra—a once-promising solar energy company that got over $530M loan guarantee in 2009 yet failed to raise private investment and filed for bankruptcy in 2011.

Tech tangles

Tech challenges are another milestone on the way to success. First of all, it’s hard to find efficient yet cost-effective materials. For instance, the innovative perovskite offers high efficiency but fails to prove its stability and scalability potential in the market. Plus, developing control systems that seamlessly integrate with smart grids, particularly in adverse weather conditions, is a hard nut to crack due to the complexities of integrating AI and the need for real-time adjustments. Thus, solar energy startups need an impeccable fundraising game; otherwise, they risk running out of money early on.

Surviving in the shark tank

Raising funds is only half the battle; truly making a mark in a saturated and cutthroat market is the ultimate test. Having over 1K established solar energy companies and over 2.7K startups globally, the sector becomes a real battlefield for the new entrants who want to make a splash. Plus, the cross-sectional nature of the industry (it may be more efficient to combine several types of clean energy) coupled with the struggle to convince customers to switch to solar energy only adds fuel to the fire. Thus, to stand out, startups need to develop unique selling propositions and leverage digital marketing and social media to communicate the value of their solutions and educate potential customers.

How we can help

Startups
Fundraising advisory

From diligent industry analysis to storytelling and financial forecasts, we’re helping founders crystallize and structure key business fundamentals and translate them into a compelling investment opportunity framed in a winning solar energy pitch deck.

Investors
Due diligence and portfolio support

Evaluating potential investments, conducting due diligence, and supporting portfolio companies on their new fundraising rounds.

Established companies
Growth hacking

Discovering market opportunities in the market and developing execution strategies to build actionable and scalable blueprints for growth.

WHO WE ARE

Unlocking your next stage of growth

Waveup is a leading global advisory empowering companies to fuel growth, attract investments, and secure strategic partnerships.

We turn data into business insights that drive results, helping companies excel in the competitive B2C and B2B spaces across 50+ verticals, discovering and catalizing opportunities for growth.

Our investment consulting services for solar energy startups

Market intelligence

Fundraising support

Pitch decks

Financial models

Investor research

Growth consulting

Go-to-market strategies

Marketing/sales materials

Design support

Learn more

FAQ

What makes the industry appealing for solar energy financing opportunities?

Investments in the solar energy industry are soaring high owing to its environmental benefits, supportive government policies (ITC, for instance), growing demand, and decreasing costs. Like this, the solar energy sector is lucrative for the potential VCs due to substantial rewards and the possibility of contributing to a more sustainable future.

What is the current size of the solar energy market, and its potential for future solar energy startups?

In 2023, the solar energy market reached $234.9B. Expanding at an annual rate of 7.1%, it’s projected to double by 2032. The sector is a fertile ground for startups with the following directions to explore: tech innovations, decentralized energy systems, grid modernization and integration, green hydrogen production, etc.

How challenging is it to secure funding for solar energy startups nowadays?

Attracting funds within the solar energy industry is a hard nut to crack due to several reasons: high initial costs, tech risks, saturated market, investor sentiment, and business model viability.

How long does it take to create a solar energy pitch deck and a financial model for a solar energy startup?

It usually takes our team two to three weeks to finish the project. However, there are some cases when our experts need one month to create all the documentation. Thus, it’s better to contact us to negotiate the time frames individually.

What are the key mistakes solar energy startups make in their pitch decks?

First of all, investors want to see a coherent and catchy narrative and intro. You must know how to grasp their attention at first sight. Also, it’s crucial to show the viability of the market-entry strategy and business model. The information should be relevant but not overdosed with charts or tables since your presentation must spark VCs’ enthusiasm rather than make them bored. It’s a pity, but many solar energy pitch decks lack these vital aspects and, thus, fail to attract additional funding.

What are the main challenges solar energy startups face, and how are they tackling them?

Competition, tech-related issues, and high initial investment are the top three challenges solar energy startups face on their way to success. Many companies utilize robust fundraising strategies to attract additional funds, so then to invest in R&D. Plus, they focus on creating a unique market proposition, developing strong branding and marketing strategies, and collaborating with established industry players.

How competitive is the solar energy market?

The solar energy market is fiercely competitive. Only in the US are more than 10K established companies, including NextEra Energy, Avangrid, and Tesla, while fresh blood flows annually as well (over 2.7K startups nowadays).

What services do you provide for investors who are either considering or have already invested in solar energy startups?

Navigating VCs to viable ventures within the solar energy domain stands at the core of our investor package. It includes comprehensive due diligence on the projects within the solar energy sector, a clear and insight-rich pitch deck, and impeccable fundraising assistance. We also guide companies within the solar energy landscape and beyond and help startups reach the relevant investors.

Do you provide solar energy M&A support?

Of course! Our experts provide M&A assistance within the solar energy space or beyond. Our team takes care of your project at every step: searching for profitable deals, evaluating their potential, and ensuring effective cooperation before, during, and after the negotiation process.

Do you make intros to solar energy VCs?

Sure thing! We settle initial meet-ups with the potential VCs, assisting startups at every phase. We start by evaluating your project on team, product, and funding request criteria. We then ensure your smooth cooperation with solar energy venture capital firms before, during, and after the deal.

Do you provide comprehensive solar energy market research on request?

Certainly! We provide tailored insights into the solar energy sector. Our research encompasses in-depth industry evaluations, competitive analyses, and comprehensive market surveys for you to get a distinctive edge. Leveraging reliable data sources, we ensure you understand the intricacies of the solar energy landscape, covering its potential and hurdles.

Which solar energy startup funding stages do you assist with?

We ensure solar energy growth and fundraising guidance to newcomers within the industry. Our team assists in going through the initial Pre-Seed stage all the way to Series C and further.

Venturing into the solar energy industry? You're in the right place

Leverage Waveup's unmatched expertise in fundraising, M&A advisory, and growth hacking to take your solar energy project to the next level. Share your email, and let's discuss how we can help!

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