...you might think investing in wind power, solar and biofuels would be a no-brainer for Silicon Valley.Continue reading at the San Jose Mercury News
But venture capitalists here and around the country are bailing out of cleantech in droves, spooked by low returns and an uncertain political landscape.
"It's quite worrisome," said Dan Reicher, head of the Steyer-Taylor Center for Energy Policy at Stanford and a former assistant secretary in the U.S. Department of Energy. "There are serious economic, environmental and security needs in the clean energy area, and the venture community has been vital in recent years in getting these technologies started."
New figures from theNational Venture Capital Association paint a sobering picture: Investments in alternative energy and related fields have dropped for five of the past six quarters. The $368 million that venture firms poured into cleantech in the first three months of this year was roughly a third of the total from the same period in 2012.
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