Venture capital investments in clean technology hit $4.7 billion last year, according to an analysis from Ernst & Young LLP. That represents a 68-percent increase in annual capital invested, and a 5-percent increase in annual financing activity.
The top four clean technology segments — people who like jargon call it cleantech – are electricity/electricity generation, alternative fuels, energy efficiency and energy storage. All experienced strong growth in 2008 over 2007.
The amount of venture capital invested in cleantech last year represents an investment milestone, according to Ernst & Young, which notes that the Obama administration’s climate change agenda and economic stimulus bill are generating optimism in the cleantech community and contributing to long-term drivers in the sector.