Solar investors promoting solar tech and energy storage in 2025

Solar investors are finally funding real businesses, not just climate promises. The 2025 market rewards solar companies with proven unit economics and actual customer contracts. These 15 investors closed solar deals in the past two years and understand the difference between hardware margins and SaaS multiples.

Quick list

Finding investors who understand solar economics

Experience: Find investors who've backed solar companies through module price crashes and supply chain disruptions. Most climate investors don't understand the difference between manufacturing margins and installation margins. Review key GDPR basics to ensure your shared documents stay compliant during outreach.

Network: Check if they can intro you to EPC contractors, utilities, or equipment suppliers. Brand-name VCs rarely have solar-specific connections that matter, so prioritize secure confidential sharing as you evaluate partners.

Alignment: Seed investors often don't understand why solar hardware companies need $50M+ to scale manufacturing. Series B investors won't care about your pilot installation metrics, prepare for this by reviewing options on our pricing plans as you scale communication.

Track record: Look at whether their solar portfolio companies actually deployed systems or just raised money. Plenty of solar startups died with great pitch decks and zero installations.

Communication: Use Ellty to share your deck with trackable links. You'll see who actually opens your financial projections versus just skimming the technology slides.

Value-add: Ask what operational support they provide during manufacturing scale-up or utility contract negotiations. Generic answers about "helping with hiring" are useless when you need introductions to solar developers.

Getting meetings with solar investors

Identify potential investors: Research recent solar deals on Pitchbook or Crunchbase. Climate tech funds won't lead your Series B if they only write $5M checks. Check which investors understand LCOE calculations.

Craft a compelling pitch: Show your installed capacity, customer acquisition costs, and actual PPA prices. Most investors are tired of climate impact claims without payback periods under 10 years. Keep everything organized through our document analytics.

Share your pitch deck: Upload to Ellty and send trackable links. Monitor which pages investors spend time on. If they skip your installation economics, that's useful information about their actual interest level.

Utilize your network: Message portfolio founders on LinkedIn and ask about response times and actual value-add during equipment sourcing. Most will be honest about whether their investors helped or just attended board meetings.

Attend networking events: ARPA-E Summit and RE+ are where solar deals actually happen. Skip the general climate conferences where investors collect decks but rarely invest.

Engage on online platforms: Connect with partners on LinkedIn after you've been introduced by a portfolio founder. Cold DMs about solar tech rarely work unless you have deployment data.

Organize due diligence: Set up an Ellty data room with your financial model, equipment supplier contracts, and installation pipeline before they ask. It speeds up the process when investors want to see your module costs.

Set up introductory meetings: Lead with your cost per watt installed and customer contracts. Don't waste 20 minutes on climate change slides they've seen a thousand times.

Why 2025 matters for solar fundraising

The IRA credits expire in phases starting 2026, making 2025 the last year for maximum solar incentives. Investors know this and are moving faster on deals with clear ITC capture strategies. Module prices dropped 40% in 2024, improving project economics but squeezing manufacturer margins. The smart money is backing software, installation tech, and energy storage rather than competing with Chinese panel makers.

15 top solar investors

1. Breakthrough Energy Ventures

They led Form Energy's $450M round and understand long-duration storage better than most climate funds. Expect deep technical diligence on your battery chemistry or solar integration claims.

• Recent Deals: Form Energy ($450M Series E, 2025), Antora Energy ($150M Series B, 2024), Fervo Energy ($244M Series D, 2024)
• LinkedIn: Breakthrough Energy Ventures
• Sector Focus: solar energy storage, utility-scale solar, concentrated solar, solar + storage systems
• Stage Focus: Series B, Series C, Series D, growth stage
• Location: Seattle, USA
• Website: b-t.energy

2. Energy Impact Partners

They backed Aurora Solar at $150M and prefer solar software over hardware. Good fit if you're building tools for solar installers or developers.

• Recent Deals: Aurora Solar ($150M Series D, 2024), Palmetto ($150M Series B, 2023), Amperon ($5M Series A, 2024)
• LinkedIn: Energy Impact Partners
• Sector Focus: solar software, solar design, energy management, solar financing
• Stage Focus: Series A, Series B, Series C
• Location: New York, USA
• Website: energyimpactpartners.com

3. Generate Capital

They invested $200M in Mainspring and focus on project finance more than early-stage tech. Best for solar + storage deployment companies with revenue.

• Recent Deals: Mainspring Energy ($200M, 2024), Pine Gate Renewables ($650M, 2024), Crusoe Energy ($350M, 2024)
• LinkedIn: Generate Capital
• Sector Focus: distributed solar, solar microgrids, community solar, solar project development
• Stage Focus: growth stage, project finance, infrastructure
• Location: San Francisco, USA
• Website: generatecapital.com

4. Prelude Ventures

They led Electriq Power's $76M round and understand residential solar + storage economics. They'll ask about your customer payback periods immediately.

• Recent Deals: Electriq Power ($76M, 2024), Zitara Technologies ($32M Series B, 2024), AmplifyBio ($20M Series A, 2024)
• LinkedIn: Prelude Ventures
• Sector Focus: residential solar, solar batteries, home energy management, rooftop solar
• Stage Focus: seed, Series A, Series B
• Location: San Francisco, USA
• Website: preludeventures.com

5. Clean Energy Ventures

They backed TSS Solar's tracking systems and focus on component tech rather than full solar installations. Technical investors who understand manufacturing.

• Recent Deals: TSS Solar ($30M Series B, 2024), Aurora Solar ($50M Series C, 2021), Raptor Maps ($12M Series A, 2023)
• LinkedIn: Clean Energy Ventures
• Sector Focus: solar tracking, solar components, solar monitoring, solar O&M
• Stage Focus: seed, Series A, Series B
• Location: Boston, USA
• Website: cleanenergyventures.com

6. Fifth Wall

They led Sunfolding's robotic tracker round and typically invest in proptech with solar integration. Better for commercial solar than utility-scale.

• Recent Deals: Sunfolding ($12M Series A, 2024), Lunar Energy ($300M Series B, 2023), Sparkfund ($18M Series A, 2020)
• LinkedIn: Fifth Wall
• Sector Focus: commercial solar, rooftop solar, solar for real estate, building-integrated solar
• Stage Focus: Series A, Series B, growth stage
• Location: Los Angeles, USA
• Website: fifthwall.com

7. Spring Lane Capital

They invest in solar + storage projects with guaranteed offtake agreements. Infrastructure focus means they want signed PPAs before they write checks.

• Recent Deals: SunCentral (undisclosed, 2024), multiple community solar projects (2023-2024), Clearway Energy Partners ($500M investment, 2023)
• LinkedIn: Spring Lane Capital
• Sector Focus: utility-scale solar, solar + storage, community solar, solar project finance
• Stage Focus: growth stage, infrastructure, project finance
• Location: New York, USA
• Website: springlanecapital.com

8. Energize Ventures

They backed Antora Energy's thermal storage and understand how solar pairs with storage systems. Industrial energy focus means they get long payback periods.

• Recent Deals: Antora Energy ($150M Series B, 2024), Mainspring Energy ($150M Series C, 2023), Optiwatt ($13M Series A, 2023)
• LinkedIn: Energize Ventures
• Sector Focus: energy storage, solar integration, thermal storage, grid flexibility
• Stage Focus: Series A, Series B, Series C
• Location: Chicago, USA
• Website: energize.vc

9. Congruent Ventures

They backed Nextracker before its IPO and focus on solar hardware with clear paths to profitability. Manufacturing investors who understand component costs.

• Recent Deals: Nextracker (pre-IPO rounds), Enverus ($550M growth equity, 2023), Palmetto ($100M Series B, 2022)
• LinkedIn: Congruent Ventures
• Sector Focus: solar hardware, solar tracking, solar manufacturing, solar supply chain
• Stage Focus: Series B, Series C, growth stage
• Location: Boston, USA
• Website: congruentvc.com

10. DCVC

They committed $1B+ to TeraWatt Infrastructure for utility-scale solar. Deep science investors who understand solar physics but expect breakthrough tech claims to be defensible.

• Recent Deals: TeraWatt Infrastructure ($1B+ commitment, 2024), Form Energy ($450M Series E, 2024), Commonwealth Fusion ($1.8B Series B, 2021)
• LinkedIn: DCVC
• Sector Focus: utility-scale solar, solar technology, advanced solar materials, solar + fusion
• Stage Focus: Series B, Series C, growth stage
• Location: Palo Alto, USA
• Website: dcvc.com

11. G2 Venture Partners

They backed Enphase early and now invest in next-gen inverter and power electronics companies. Hardware investors who understand solar electrical systems.

• Recent Deals: Enphase Energy (early rounds), SunPower (growth rounds), various solar electronics startups (undisclosed)
• LinkedIn: G2 Venture Partners
• Sector Focus: solar inverters, power electronics, solar microinverters, solar monitoring
• Stage Focus: seed, Series A, Series B
• Location: Menlo Park, USA
• Website: g2vp.com

12. Obvious Ventures

They led Clearloop's $17M round and focus on solar projects in underserved markets. Impact-focused but still expect reasonable returns within 5-7 years.

• Recent Deals: Clearloop ($17M Series A, 2024), Arcadia ($200M Series C, 2023), Ohmie ($10M Series A, 2024)
• LinkedIn: Obvious Ventures
• Sector Focus: community solar, solar access, solar financing, distributed solar
• Stage Focus: seed, Series A, Series B
• Location: San Francisco, USA
• Website: obvious.com

13. Union Square Ventures

They backed Arcadia's community solar platform and focus on consumer-facing solar products. Software investors who understand marketplace dynamics.

• Recent Deals: Arcadia ($200M Series C, 2023), Swell Energy ($120M Series B, 2022), previous clean energy investments
• LinkedIn: Union Square Ventures
• Sector Focus: community solar, residential solar, solar marketplaces, solar software
• Stage Focus: Series A, Series B, Series C
• Location: New York, USA
• Website: usv.com

14. Khosla Ventures

They invested in Heliogen's concentrated solar but the IPO struggled. High-risk, high-reward investors who'll fund moonshots if the physics works.

• Recent Deals: Heliogen (pre-IPO rounds), Infinium ($75M Series C, 2023), various solar tech startups (undisclosed)
• LinkedIn: Khosla Ventures
• Sector Focus: concentrated solar, solar technology, advanced solar materials, solar manufacturing
• Stage Focus: seed, Series A, Series B, Series C
• Location: Menlo Park, USA
• Website: khoslaventures.com

15. Prime Impact Fund

They led multiple rooftop solar financing rounds and focus on commercial installations. Project finance investors who want to see signed contracts.

• Recent Deals: Various commercial rooftop solar projects (2024), distributed solar financing ($100M+ deployed), solar + storage installations
• LinkedIn: Prime Impact Fund
• Sector Focus: commercial solar, rooftop solar, solar financing, solar installation
• Stage Focus: growth stage, project finance, infrastructure
• Location: London, UK
• Website: primeimpactfund.com

Track which investors actually read your deck

These 15 investors closed solar deals from 2023 to November 2025. Before you start reaching out, set up proper tracking so you know who's actually interested.

Upload your deck to Ellty and create a unique link for each investor. You'll see exactly which slides they view and how long they spend on your installation costs versus your climate impact slides. Most solar founders are surprised to learn investors skip the technology pages but spend 10+ minutes on module pricing and project margins.

When investors ask for more materials during diligence, share an Ellty data room instead of messy email threads. Your cap table, financial model, equipment supplier contracts, and PPA agreements in one secure place with view analytics. You'll know exactly what they reviewed before your next call.

Common questions

How do I know if an investor is still active in solar?

Check Pitchbook or Crunchbase for deals in the past 18 months. If their last solar investment was pre-2022, they've probably moved on to AI or something else. Portfolio page updates don't mean they're writing new checks.

Should I target climate funds or generalist VCs?

Climate funds understand solar economics but write smaller checks. Generalist VCs have more capital but will compare your margins to SaaS companies. If you're building software for solar, go generalist. If you're manufacturing panels or installing systems, stick to climate specialists.

What's the difference between seed and growth solar investors?

Seed investors fund R&D and pilot installations. Growth investors want proven unit economics and signed contracts worth millions. Don't pitch Generate Capital with 5 pilot projects. Don't pitch Prelude Ventures when you need $100M for manufacturing.

How many solar investors should I reach out to?

Start with 20-30 that match your stage and sector focus. Solar is specialized enough that most generalist investors will pass immediately. Better to have deep conversations with 10 relevant investors than spray 100 decks to people who don't fund hardware.

When should I set up a data room?

Before your first investor meeting. Solar due diligence takes longer than software because investors want to see equipment costs, supplier contracts, and project pipelines. Having everything ready in an Ellty data room speeds up the process by weeks.

Do investors actually look at pitch deck analytics?

Yes, but not the way you think. If 10 investors all skip your technology slides but read your financials twice, that tells you something about what matters. Use the data to improve your deck, not to judge investor interest. Some investors skim everything fast and still write checks.