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Green technology looks positive next year
By siliconindia
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Tuesday, 30 December 2008, 21:42 IST
Bangalore: The future for green technologies in the coming year appears positive but still vulnerable to swings in energy prices and political attitude. Many expect to have a favorable policy environment for clean-tech businesses, with an incoming administration that intends to lead a comprehensive energy policy and reduce carbon emissions.
Consumers and businesses continue to incline to all things green even in the face of green-washing. Driven by these forces, many clean technologies are already starting to crack into the energy industry, which is dominated by huge corporations, reported Cnet.
Solar technologies, including solar thermal power plants and thin-film solar cells, are starting to be commercialized. Electric cars, too have come to market targeting mainstream consumers. But at the same time, the wave of green-tech companies and initiatives formed over the past four years face some serious problems.
The drop in oil prices makes many ventures, particularly those in biofuels, less competitive on price alone. A steady climb in energy prices over the past few years prompted consumers to shift to fuel-efficient vehicles and businesses to invest in energy efficiency. That behavior could change after the abrupt drop in oil prices caused by the recession in the second half of 2008.
The financial crisis is hurting green businesses, both small ones that need venture capital and more mature ones that need project financing. Without sufficient capital, many start-ups will have trouble bringing their technologies to market.