U.S. funding brightens outlook for green

SAN FRANCISCO (Reuters) – U.S. infusion of federal funds into clean technology projects has prevented the collapse of many green firms, revived enthusiasm and is now generating optimism for the emerging sector in 2010.

The impact of the aggressive stimulus from the U.S. government’s Department of Energy (DOE), which has promised nearly $100 billion for a number of green projects, will begin having a visible impact on the sector next year, industry executives and venture capitalists told the Reuters Global Climate and Alternative Energy Summit in San Francisco.

But the stimulus also had an unintended impact on the sector. It slowed the pace of activity this year, given the rigorous and lengthy process of applying for the U.S. government funds.

Reuters