If the solar company is offering below market returns, then an impact investment is equivalent to a grant to that company. This opens up some space for impact investing to have counterfactual impact, provided the investment opportunity stands a decent chance of success.
If the solar company is offering below market returns, then an impact investment is equivalent to a grant to that company. This opens up some space for impact investing to have counterfactual impact, provided the investment opportunity stands a decent chance of success.