The three sectors of business, storage, smart grid and efficiency raised $1.03 billion in the first half of 2017.
This, compared to $807 million in the first half 2016, according to a new report from Mercom Capital Group.
Venture capital (VC) funding (including private equity and corporate venture capital) for Smart Grid companies increased threefold in Q1 2017 with $164 million in 14 deals compared to $46 million in six deals in Q4 2016.
In a year-over-year (YoY) comparison, in Q1 2016 $110 million was raised in 14 deals.
VC funding for Battery Storage companies came to $58 million in eight deals this quarter compared to $156 million in nine deals in Q4 2016. YoY funding in Q1 2016 was lower with $54 million raised in 10 deals.
Energy Efficiency technology companies increased VC funding to $213 million in 14 deals this quarter compared to the $170 million in five deals in Q4 2016 and $211 million in 14 deals in Q1 2016.