Investments in Clean Technologies Significantly Increase in the U.S-

According to a recently published report, venture capitalists have invested significantly more money in renewable energy compared to the same time last year. The majority of funds were dedicated toward clean technologies intended to make energy use more efficient, from green buildings to electric vehicles. Many market analysts agree that investments in clean energy technologies will only increase as more consumers and government officials support renewable sources of energy to combat rising greenhouse gas levels and replace expensive fossil fuels. In the first quarter, venture capital investments in clean technology totaled $733.3 million – an increase of 68 percent from $435.8 million in the year-prior quarter, according to a report from Ernst & Young LLP. The total stalled the first quarter of 2008 when investments reached $844.7 million. “It is just part of the overall recovery of the economy,” said Gil Forer, Ernst & Young’s global cleantech leader. Renewables comprise just a small portion of all energy consumed in the United States, although solar and wind are among the fastest growing sources of energy in the country.

Photo Credit: Ashlee McMillan 2009©