Stimulus Particulars: 7x 2008 Cleantech Venture Capital Investment
To say that the stimulus package currently under review contains significant support for renewable energy, green and cleantech would be a gross understatement. Depending on whose data you use, it is roughly five-to-seven times the total of all VC investment in cleantech in 2008. Or, a little more than twice the total revenue of the solar industry. Wow.
So where is the money going and what is being proposed? Huge chunks of it will go toward improving the energy grid and increasing its dependance on renewable resources. Other chunks will go toward making government buildings and facilities at all levels more energy efficient (including renewable power), but it doesn’t stop there. Schools and low-income housing see some benefits as well.
Biofuels will get $800 million. Batteries will get a big chunk. Bottom line: Even if this bill is halved before being signed by President, it will create the largest government investment in renewable energy, likely exceeding all past investments combined.
Government subsidies have been critical to the growth of solar and wind in Europe. The US has lagged behind. This is a major step forward in making the US the world’s top producer of renewable energy.
Companies need to take advantage of this opportunity because it will not exist again in our lifetime. It is analagous to being a contractor or steel producer during the New Deal Era. Opportunities exist for both commercially mature and pre-commercial technologies.
Many companies avoid engaging in Government Relations because they don’t understand it or they rely on industry associations to execute it on their behalf. If you have a technology that you believe can solve the energy, environmental and geopolitical challenges facing the country, now or in the future, then you should learn about how it works. You will learn a lot about policy making, appropriations, government project management and how to sell to government entities. It also will add to your executive’s expert credibility when your public relations team is executing a thought-leadership campaign.
Uncle Sam’s House is about to become much more energy efficient and whether you directly engage with him or not, there are many companies that will play a role in helping.
Latest posts by Jason Morris (see all)
- The Conference Vortex—MWC, HIMSS and RSA Converge Into One Internet-of-Things Mega Event – February 24, 2014
- Silicon Valley PR Musings: iPhone 5S, Twitter IPO & TechCrunch Disrupt – September 13, 2013
- This Just In: Solar Still a Growth Market – September 12, 2013