Cooley's Clean Energy and Technologies Conference Announces Survey Results on State of the Sector
Palo Alto, Calif. – October 17, 2012 – A survey of clean tech industry leaders at Cooley's fifth annual Clean Energy and Technologies Conference has highlighted the opportunities and challenges facing the sector in a turbulent 2012.
Of the conference delegates who responded, 74% agreed that access to capital is the greatest challenge their company faces in achieving scale and/or profitability. Economic conditions (60%) and public policy (49%) are also hindering progress, according to the survey.
When asked what the Federal government should focus on in order to ensure the competitiveness of innovation in the clean energy space, 73% of investors cited a more universally accepted carbon pricing as the number one task for the government to pursue; 55% of respondents also noted that project financing availability was key. By contrast, last year the two priorities identified by most delegates were tax credits and legislative mandates.
When asked about plans to invest in clean tech start ups in the near future, an overwhelming majority (74%) of investors noted that they would continue to invest in the clean tech sector.
"Despite some strong headwinds facing the sector, innovation in both technology and emerging business models will be the catalyst for continued investment and adoption of advanced energy technologies," said Gordon Ho, a partner in Cooley's Clean Energy & Technologies practice. "The conference reinforced the fact that there are huge resource and energy constraints that need to be addressed – and eager entrepreneurs with efficient, differentiated solutions continue to pave the way."
Specifically, 82% of investors stated that they were most likely to invest in the energy efficiency/lighting sector in 2013; 73% in the energy storage sector. Investors were least likely to invest in the solar or water sectors, according to the survey.
This year's conference brought together clean technology entrepreneurs, venture capitalists and other industry professionals to address critical clean tech issues, opportunities and vehicles for financing the myriad of renewable energy solutions available in the market. Cooley evaluated the responses of 84 clean tech industry leaders who responded in full to the survey questions.
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