It is hard to boot up the computer or turn on the television without hearing about the recession, credit crisis, budget deficits, and unemployment rates. Amazingly, venture capital investment in the clean tech sector reached new levels over the first three quarters of 2008.
Ernst & Young’s recent analysis of activity in the United States, China, Europe, and Israel using data from Dow Jones VentureSource shows such investment to be at $4.6 billion. This is an impressive 83% increase from the first three quarters of 2007.
The United States is a main driver, with $3.3 billion of investments during this period, of which $1.7 billion went to the solar energy sector.
European investment reached $481 million Euros, with wind energy as the leading recipient. China’s investments grew 567% over the same period in 2007. The solar energy sector was the largest recipient with $85 million.
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