By:
Elizabeth Cutright
For a while now, we’ve been hearing that the key to energy
independence lies in increased funding for renewable energy and
clean energy technology. There have certainly been plenty of lofty
promises and ambitious proposals at local, state, and federal
levels. And there have been setbacks too, with Solyndra and the
Fukushima power plant perhaps the most high-profile examples of
clean energy mishaps. But as gas prices escalate and emerging
economies in India and China push up demand for fossil fuels, it
seems logical that there’s a place for renewable energy and clean
tech at the power table.
So shouldn’t the money follow?
Apparently not, according to date released by both the Clean Energy
Pipeline and Bloomberg New Energy Finance. According to the
Clean Energy Pipeline, investment in all matter of clean tech is
down from 2010. Additionally, venture capital and private equity
investment is at its lowest levels since 2009.
Bloomberg’s data only paints an even more dismal picture—with
investment in clean energy down 28% since the previous quarter and
at its lowest since 2009.
One fact affecting financial decisions on a global scale is that
most of those closed checkbooks and skittish investors are waiting
to see how the US presidential election shakes out. And while there
are some positive developments, particularly in South America and
other emerging markets,
both Bloomberg and Clean Energy Pipeline blame stagnant
investment in the US on uncertainty regarding renewable energy
policy in the US and Europe, as well as “fall out from renewable
energy policy reforms in many European countries.”
So, what do you think? Is this just a result of an inevitable swing
in the pendulum? Is political blustering to blame? Or is this just a
byproduct of our current energy policy, which funnels subsidies and
tax breaks to traditional power sources, while clean tech and
renewable energy are left to twist in the wind?
© Copyright 1996-2012 Forester Media, Inc.
http://www.distributedenergy.com