In case anyone asks, 2022 was all about energy – natural gas, oil, renewables, everything. Natural gas prices rose early on, as Vladimir Putin’s ill-conceived decision to invade Ukraine severely cut gas supplies to Europe. This, coupled with high oil prices, was a major contributor to near-record inflation, forcing central bankers to raise interest rates.
This inflation helped spur the passage of the Anti-Inflation Act, which includes several provisions to encourage renewable energy, prepare the grid for its rollout, and encourage the development of other alternative energy sources.
Taken together, these developments – coupled with investors’ desire for safe returns – have seen dollars flock to clean energy. Venture capital activity in the industry is on track to reach record highs of 2021 through Q3, according to a new report from PitchBook.