Solar power generation soared in Europe this summer, saving the continent’s consumers billions as fossil fuel prices soared.
The European Union generated 12% of its power from solar energy between May and August, a record-breaking figure, according to analysis by climate-focused think tank Ember. It estimates that the uptick in solar power saved the continent €29bn in gas imports over the summer.
So, as solar interest surges, how are startups getting in on the act?
Investment into Europe’s solar tech industry reached a record $975m last year, according to data from Dealroom — and 2022 is on track to far overshoot that.
The biggest recent rounds were raised by 1Komma5 and Enpal, which are both focused on residential solar installation. 1Komma5, based in Hamburg, raised a €200m Series A in April this year, and Enpal raised a €150m Series C…