Green Technology Investments Plummet
Private-sector investments in green or sustainable technologies declined 48 percent for the first quarter of 2009, according to a new report from the Cleantech Group and Deloitte.
The total amount invested globally – $1 billion across 82 companies in the U.S., China, India and Europe – represents a 41 percent decline compared to the fourth quarter of 2008.
VC funding in green or sustainable technologies peaked in the third quarter of 2008 at $2.6 billion. The first quarter 2009 level is about equal to where it was two years ago.
Yet while private investment wanes, governments are stepping up to the plate in a big way. According to a new report, “Towards a Global Green Recovery,” governments are injecting $400 billion in cleantech stimulus funding.
In the private sector, Cleantech reports that top investment areas from the first quarter of 2009 were:
- solar – $346 million
- biofuels – $96 million
- advanced batteries – $94 million
- electric vehicles – $78 million
Pundits have warned that the United States is falling behind on funding clean and sustainable technologies.
Before economic problems hit, Ernst & Young released data last October that showed global investments in cleantech were on the rise.
Stay Up-to-Date On Environmental Management, Energy & Sustainability News with EL's Free Daily Newsletter
Energy Manager News
- Passive-House High-Rise to be Airtight
- Greensmith Offers ‘Second Opinion’ on Energy Storage Systems
- Commercial Tankless Water Heater Handles the Demands of Business
- Booz Allen, Siemens, Power Analytics Score 16 Microgrid Projects
- NH City to Save $500,000 Annually with LED Streetlights
- Australian College Uses Energy Storage
- LED Boosts Light Output 50%, Uses Existing Drivers
- Energesco Wins Energy Efficiency Contracts for Multifamily Buildings in Maryland