SVB Failure Leaves Small US Solar Projects Needing New Ally

The fallout from Silicon Valley Bank’s collapse continues to be felt across industries. Bloomberg Quicktake’s Madison Mills explains how the community solar projects are feeling the heat.

Climate tech startups appear to have averted a crisis after the US government moved to backstop the failed Silicon Valley Bank and guarantee deposits. But questions remain over one renewables niche in which the lender had developed a specialty, and where projects may now need to find a new ally.

SVB was perhaps best known in the renewables world for supporting small-scale projects, including so-called community solar projects, which other lenders often avoided because of the onerous legal and tax paperwork.

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Source: Bloomberg Quicktake