Consulting firm Mercom Capital Group has said that total corporate funding, including venture capital funding, public market and debt financing into the solar sector fell to $1.7 billion in April-June quarter, a 41 percent fall compared to the $2.8 billion raised in January-March period.
Year-over-year total corporate funding was downward significantly compared to $5.9 billion in the second quarter of last year, the firm said.
"The solar industry continues to experience weakness in terms of financing activity and corporate funding in April-June, 2016 was at its lowest level in three years," said Group's CEO and co-founder Raj Prabhu.
Global solar venture capital funding (including private equity) saw a large dip in the quarter under review with $174 million in 16 deals compared to $406 million in 23 deals in January-March period.
Solar public market financing in April-June came to $179 million in four deals compared to $94 million in four deals in the first quarter of calendar year 2016 and $2.3 billion in 12 deals in April-June period last year, the report said.