How is the funding environment shaping up for energy technology in 2019? As we pass the mid-year mark, let's see how the year-to-date metrics compare to the historical trends. The graph below shows energy technology total funding by year, stacked by quarters.
As the graphic demonstrates, energy technology has amassed $5.5B through Q1 and Q2 of this year. This amount represents 58% of the total funding in 2018, and 132% of the funding through Q2 in 2018. The top three funding events in Q2 2019 include a $208M round into Spruce Finance, a $195M round into Lightsource Renewable Energy, and a $170M round into Sila Nanotechnologies.
A straight-line projection of the completed funding this year would result in $11B, which is 116% of the total 2018 funding. By the same token, a weighted quarterly average projection of 2019 funding would result in $12.5B, which exceeds the total 2018 funding by 32%. Therefore, based on the mid-year data, energy technology funding in 2019 is projected to be higher than the funding in 2018.