Dive Summary:
- According to Bloomberg, the same Silicon Valley investors that once poured money into the solar industry are now moving their money into electric grid technology and energy storage companies.
- Venture capital and private-equity funding for renewable energy in 2012 was at its lowest point in six years; while 6.5% of the $268.7 billion invested in renewable energy was invested in 2008, investments from 2012 make up only 2.2% of the total.
- Investors such as Alan Salzman, CEO of VantagePoint Capital Partners, are convinced that energy storage and grid technology are "essential" to implementing renewable sources of energy.
From the article:
"... Alan Salzman, chief executive officer of VantagePoint Capital Partners, said systems that allow energy to be used more efficiently and help the grid cope with variable supplies from wind and solar plants represent the richest new areas.
Energy storage is 'an essential component' for renewable energy to thrive, Salzman said. 'That’s an area that has been hugely underserved historically that we think remains hugely interesting,' he said. ..."
