Maybe it’s just VCs getting deals done before they leave for vacation but after a stronger than expected second quarter – July VC investment activity is pretty much off the charts in both number of deals and total invested.  With 49 July VC investments in greentech totaling well above $525 million – we are at a run rate that rivals or exceeds the record pace of 2008.

That $525 million doesn’t even include the many “undisclosed” deals or Exxon’s $300 million multi-year investment in algae biofuel alchemist Synthetic Genomics.

Every greentech sector was well-represented in July – with investment in smart grid, storage, green buildings, green IT, and of course, solar.  Notable investments in July were the $75 million investment in Suniva’s high efficiency solar and the $32 million investment in smart grid software maker eMeter by Sequoia Capital and Foundation Capital.

Braemar Energy and Intel Capital were particularly active in closing deals in July.

There was even a sign of life in greentech M&A with Germany1’s $752 million acquisition of inverter maker AEG and SAIC’s $155 million purchase of R.W. Beck, an energy consultancy.

Add in the looming A123 IPO and things are just starting to get interesting in greentech finance.