Despite the fact that fourth quarter 2008 venture capital for clean tech industries was just $1.7 billion, down from $2.6 billion in the third quarter, forecasters are bullish on the future of clean tech.
This article at inc.com explains that clean tech executives and their investors think the spigots will keep flowing.
To wit, one California firm got $30 million in financing "just days after bankruptcies and fire-sale deals mauled Wall Street in September," according to the article.
The article has some reasons why the future is bright for clean tech, despite lower energy prices.
"Congress recently approved an eight-year extension of the investment tax credit for utility-scale solar projects. President-Elect Barack Obama has pledged a new green economy along with support for alternative energy sources. And a cooperative of 10 Northeastern state governments have agreed to cap carbon emissions beginning this month."
And, even if investors may be looking askance at some clean tech firms for now, clearly the future lies in being more energy efficient on all fronts. Eventually the oil will run out, and so-called clean coal turns out to be not so clean if you live downstream from a coal waste repository, or if you live downwind from coal plants.
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