{"id":6398,"date":"2014-03-07T22:51:26","date_gmt":"2014-03-07T22:51:26","guid":{"rendered":"http:\/\/blogs.edf.org\/energyexchange\/?p=6398"},"modified":"2015-12-21T12:44:26","modified_gmt":"2015-12-21T18:44:26","slug":"is-clean-energy-technology-booming-five-reasons-it-is","status":"publish","type":"post","link":"https:\/\/blogs.edf.org\/energyexchange\/2014\/03\/07\/is-clean-energy-technology-booming-five-reasons-it-is\/","title":{"rendered":"Is Clean Energy Technology Booming? Five Reasons It Is."},"content":{"rendered":"
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To see the full infographic, go to greentechmedia.com.<\/figcaption><\/figure>\n

By: Benjamin Schneider<\/a><\/em><\/p>\n

You may have heard about the recent\u00a060 Minutes<\/em>\u00a0segment\u00a0that inexplicably reported<\/a>\u00a0the cleantech sector was in steep decline. There are\u00a0quite a few<\/a>\u00a0reports<\/a>\u00a0out there breaking down the many fallacies of that segment, with most correctly concluding the sector is not dead, it is in fact booming and evidence of that surging momentum is everywhere you look. Consider these five examples that show just how good things are for cleantech these days:<\/p>\n

1.\u00a0\u00a0<\/strong>The solar industry is booming.<\/strong><\/p>\n

The facts are unequivocal: the solar industry is alive and well. According to a new\u00a0report<\/a>\u00a0and\u00a0infographic<\/a>\u00a0released this week by Greentech Media Research and the Solar Energy Industry Association (SEIA), 2013 was a banner year.<\/p>\n

The Wall Street Journal also recently\u00a0reported<\/a>\u00a0that investors are more enthusiastically embracing solar stocks again, siting \u201can industry shakeout of the past few years and falling costs of producing and installing solar-power systems\u201d as the reason for a \u201crecent big gains in the stocks.\u201d<\/p>\n

The handful of solar companies that didn\u2019t make it tend to grab more headlines. But on the whole, the solar industry has grown by leaps and bounds in terms of job creation, generating capacity, and investor confidence.<\/p>\n

2.\u00a0<\/strong>Federal grants are leading to incredibly successful startups.<\/strong><\/p>\n

Not only is Tesla Motors one of the most successful cleantech startups in the world, they are one of the most successful startups of any sector. They recently\u00a0announced<\/a>\u00a0plans to invest $2 billion in a large-scale factory to produce cheaper batteries, and stock shares soared after news of the company\u2019s robust production outlook. They must be doing something right to afford such robust growth, and none of this would have been possible without the\u00a0Department of Energy loan<\/a>\u00a0program that helped get them off the ground.<\/p>\n

And though Tesla is rightly held up as an example of the United States\u2019 commitment to the advancement of clean technologies (to say nothing of their cars<\/a>), they\u2019re hardly alone. You can find\u00a0examples of startups<\/a>\u00a0receiving federal loans to help jumpstart tremendously successful companies all over America.<\/p>\n

3.\u00a0<\/strong>States are paving the way for more cleantech success, too.<\/strong><\/p>\n

Take a look at New York<\/a>, where Governor Cuomo recently announced an initiative to provide an additional $30 million to stimulate more large-scale solar and biogas projects in the New York City area. Meanwhile,\u00a0in Arizona,<\/a>\u00a0state regulators are working on smart energy measures that would both lay a foundation for a strong rooftop solar industry while still allowing utilities to charge fair rates to solar rooftop customers.<\/p>\n

Stories like these are indicative of the national trend \u2013 states increasingly recognize the value in supporting the robust cleantech sector because advancements in clean energy are good for people, business and the environment. And you can expect to see more such examples of state-sponsored, market-based solutions that benefit the public and private sectors alike as word about successful models like these spread.<\/p>\n

4.\u00a0<\/strong>More people are embracing cleantech.\u00a0<\/strong><\/p>\n

Of course, even favorable market conditions wouldn\u2019t amount to much without strong demand for cleantech. Fortunately,\u00a0new data suggests<\/a>\u00a0that after years of fluctuations, customers are increasingly interested. Solar energy, wind energy, and hybrid and electric cars all saw a rebound in interest compared to prior-year levels.<\/p>\n

Google\u2019s recent $3.2 billion\u00a0purchase<\/a>\u00a0of Nest Labs, the company responsible for transforming \u201cunloved\u201d home products, such as thermostats and smoke detectors, into beautiful, smart appliances, is another indicator that more people are embracing cleantech. By purchasing Nest, Google was simply reacting to a market signal from customers whose interest (and investments) in smart, innovative home energy management systems have shown a significant increase over the past few years.<\/p>\n

5. Cleantech costs are falling.<\/strong>\u00a0<\/strong><\/p>\n

Lower costs play a huge factor in the cleantech industry\u2019s success,\u00a0according to the Department of Energy<\/a>:<\/p>\n