Green Tech investments dropped 33% in 2009 from the previous year, mostly due to the sagging economy, says a report from the Cleantech Group. According to their research, cleantech investing in products like batteries, solar panels, and home automation suffered in 2009. Investing as a whole decreased at a higher percentage than cleantech, spurring hope that investments in this particular sector will continue to be semi-resiliant to world economic conditions. "In 2009... cleantech continued to outpace software and biotech,” said Dallas Kachan of the San Francisco based Cleantech media group.
The largest portion of this money is going to the solar industry. Solyndra, a solar energy manufacturer that uses uniquely shaped panels designed for flat commercial roofs, was awarded about $733 million through public and private funds. Battery companies like A123 Systems were also big winners in 2009, drawing $100 million in investment funds. While the overall decline in investment may be alarming, some analysts are more concerned about how America's participation in top-level investing in shrinking in relation to China's.
Domestically, California represents the bulk of America's cleantech investing, holding about 6 to 7 times the funds as runner-up Massachusetts. The Deloitte consulting group expects to see a swell in initial public offerings in 2010.
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