ClimateTech & cleantech startups
The cost of PV, heat pumps and hydrogen is falling faster than forecasts predicted - meanwhile billions of venture capital are flowing into European cleantech startups. Here you see where economic viability has already been reached and which niches have the most momentum.
Current market prices
PV module (spot)
Source: pvXchange
Heat pump (system)
Source: BWP/EnBW
Battery price 2026
Source: BNEF Annual Survey
Green hydrogen
Source: IRENA/HyDeal/BNEF
PV module price - long-term trend
€/Wp crystalline silicon, spot price 2014 to 2024 (learning curve)
Heat pump (air-to-water) - system price
System price incl. installation in €'000. Source: BWP/EnBW
Green hydrogen - price trend
LCOH in €/kg (electrolysis, renewable power). Source: IRENA/HyDeal/BNEF
Cleantech venture capital Europe · Last 90 days
VC funding in Climate & Energy and Deeptech & Hardware · European startups · 07/26 - 10/26 · vs. prior 90 days (04/26 - 07/26)
Climate & Energy
0 Startups · 0 Rounds
Deeptech & Hardware
0 Startups · 0 Rounds
Ø round size Climate
Deeptech: €0 k
Funding volume per month
€m · Climate & Energy + Deeptech & Hardware · 10/25 - 06/26
Distribution by stage
Climate & Energy + Deeptech & Hardware · cumulative
Top rounds
largest individual rounds · last 90 days
Source: Inventure Capital Side Letter · Orbit API
Three forces make on-site generation one of the most profitable investments for industrial SMEs.
- The PV learning curve is relentless: module prices have dropped over 80 % since 2014.
- Low module prices, high grid power prices and rising CO₂ costs now pull in the same direction. CO2
- Keep waiting and you leave returns on the table in a historically favourable window.
Frequently asked questions on PV module and heat pump prices
What does a PV module cost today?
The spot price for crystalline PV modules has fallen by over 80 % since 2014. A 40 kWp rooftop PV system pays back in 5 to 7 years. The dashboard shows the current module price based on pvXchange data.
When does a heat pump pay back?
An air-to-water heat pump (10 kW) costs approx. €9,000 to 15,000 incl. installation (after KfW subsidy). With an annual energy demand of 15,000 kWh and a COP of 3.5 it pays back versus a gas boiler in about 6 to 9 years.
Does any of this sound like your challenge?
A short note is enough - I'll reply personally within one business day with a suggested 20-minute intro call.