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European solar startups raise €82 million in January-August

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European solar startups raise €82 million in January-August

Venture capital investment in solar startups is stabilising in 2026 after dropping to a decade low last year, according to analysis by Avnet Silica.

A recent study by the electronics distributor found equity funding into the European solar sector reached €82 million ($91.2 million) by the end of August, compared to €24 million across the whole of 2025.

Harvey Wilson, Senior Manager Industrial Vertical Markets EMEA at Avnet Silica, told pv magazine that with a few additional deals closing in the last two months, total funding in 2026 could fall between €90-100 million by the year’s end.

While this year’s investments represent an upward trend, they remain off the pace of 2023, which recorded an all-time high of €285 million.

Wilson explained the surge in investment in European solar tech startups across 2022 and 2023 was most likely driven by energy security concerns, swiftly followed by a market correction through 2024 and 2025.

“The stabilisation we’re seeing in 2026 isn’t an indicator of a full market recovery just yet,” he said. “But it does show that while investors are being selective in a period of more expensive capital, they remain willing to invest when presented with the right opportunities.”

Additional analysis shared with pv magazine reveals PV recycling is the most funded market segment in 2026 so far, receiving €35 million, followed by lightweight PV modules (€16 million), residential PV systems with energy storage (€15 million), solar thermal technologies (€10.3 million) and space-based solar (€5 million).

Avnet Silica’s analysis adds 93% of the €82 million invested by the end of August went to early-stage companies.


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