Clean tech: Green energy is the modern gold rush

The “clean tech” sector has bounced back from the credit crunch with new global figures showing a resurgence of interest from investors in alternative energy – labelled a “green Klondike” that could reach $600bn annually by 2020.

New Energy Finance, a specialist consultant which has compiled the latest figures for the United Nations environment programme, says money raised and spent during 2008 should be ahead of 2007, a banner year when annual investment levels grew 60% to reach almost $150bn (
The latest figures suggest the world is on track to spend $450bn per annum by 2012 and hit $600bn a year by 2020, according to the UN. New investment in all forms of energy, including oil and gas, is currently $1.3tn, meaning clean tech has already secured 10% of the new investment market. New Energy Finance points out that the amount of investment made by venture capitalists and private equity had risen strongly in the last quarter to $4.7bn, compared with $2.5bn in the first three months of the year and an average quarterly figure of between $3bn and $3.5bn during 2006 and 2007.

Guardian