Solar market ‘significantly hit’ by coronavirus crisis

Between January and March, total corporate funding in the solar PV sector dropped by 31% compared with last year, according to a new report

Coronavirus crisis has brought corporate funding in solar photovoltaics (PV) sector into a halt.

That's according to the recent report from GlobalData, which suggests between January and March this year, total corporate funding in the solar PV sector amounted to $1.9 billion (£1.5bn), a 31% drop from the $2.8 billion (£2.2bn) achieved last year.

Furthermore, it says global venture capital funding in the solar PV sector amounted to $145 million (£116m) in the first quarter, which is 'significantly' less compared than the $350 million (£280) recorded in the fourth quarter of 2019.

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