2023 In Review: A Soft Landing on the Right Side of the Pandemic

The Inflation Reduction Act (IRA), arguably the most significant clean energy catalyst in the U.S., has played a pivotal role in de-risking private sector investments. This legislation has already begun to show its effects, with energy and power innovators in the U.S. experiencing notable changes. Venture-backed U.S. innovators diversified their financing sources in 2023, moving away from a predominant reliance on equity. This shift reflects a growing bankability among U.S. innovators’ business models, alleviating the impact of higher interest rates that typically raise the bar for equity investments.

Comparing the U.S. cleantech landscape to its Transatlantic counterpart, U.S.-based energy innovators experienced a robust 2022, with 2023 delivering similar performance. However, the Net Zero Industry Act (NZIA) in the European Union has begun to make its presence felt. The second half of 2023 witnessed a significant upturn for European energy innovators, contrasting with a less favorable first half.

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• Source: https://www.cleantech.com/2023-in-review-a-soft-landing-on-the-right-side-of-the-pandemic/