Impact of Financial Meltdown on CleanTech: Is K Street the New Wall Street?

| | Comments (1) | TrackBacks (0)
With the Stimulus money starting to go out the door and financial credit markets still frozen from the economic meltdown, Washington DC's funding seems to be the only thing keeping the cleantech project sector afloat.

So said Michael Eckhart, president of the American Council for Renewable Energy during a conference call earlier this week.

"The generic financing situation is impacting our sector," Eckhart said to a few hundred listening in on a conference call, which was aimed at reviewing the first 120 days of Stimulus performance.

Eckhert said in the wind and solar markets that a majority of financing has been pulled, largely by European banks, with wind financing down 75 percent from 2008, which he called a "great year". He also mentioned that the AIG and Lehman Brothers' struggles and Lehman's subsequent disappearance decelerated clean energy tax equity investments.

The year 2009 is almost like starting over, he inferred. "That's how urgent this has become."

"We have to create a new model," he said of the vacuum in clean energy financing. In terms of Stimulus funding, he proposed the US government continue its efforts in getting liquidity going through grants and loans ("70 percent of the Stimulus for clean energy will be spent by June 2010"), and then phase it out as private equity returns to what he characterized as a fast-growing market.

World markets for wind and solar are looking stronger than ever, Ekhart said, with China and Italy now starting to add to the already strong demand in Japan, Germany and California.  

0 TrackBacks

Listed below are links to blogs that reference this entry: Impact of Financial Meltdown on CleanTech: Is K Street the New Wall Street?.

TrackBack URL for this entry:


How about community-supported wind and (even) animal power?

Solar is nice but part of our whole industrial economy which seems as though it will have a limited lifespan. I hear anecdotes of panels from the 70s still working, though.

Leave a comment


About the Author

    Warren Karlenzig
Warren Karlenzig, Common Current founder and president, has worked with the United Nations Department of Economic and Social Affairs (lead co-author United Nations Shanghai Manual: A Guide to Sustainable Urban Development in the 21st Century, 2011); United Nations Center for Regional Development (training of mayors from 13 Asian nations on city sustainable economic development and technology); provinces of Guizhou and Guangdong, China (urban sustainability master planning and green city standards); the United States White House and Environmental Protection Agency (Eco-Industrial Park planning and Industrial Ecology primer); the nation of South Korea ("New Cities Green Metrics"); The European Union ("Green and Connected Cities Initiative"); the State of California ("Comprehensive Recycling Communities" and "Sustainable Community Plans"); major cities; and the world's largest corporations developing policy, strategy, financing and critical operational capacities for 20 years.

Present and recent clients include the Guangzhou Planning Agency; the Global Forum on Human Settlements; the Shanghai 2010 World Expo Bureau; the US Department of State; the Asian Institute for Energy, Environment and Sustainability; the David and Lucile Packard Foundation; the non-governmental organization Ecocity Builders; a major mixed-use real estate development corporation; an educational sustainability non-profit; and global corporations. Read more here.

Follow Green Flow on Twitter

About this Entry

This page contains a single entry by Warren Karlenzig published on June 18, 2009 3:12 PM.

Living Cities' New Green Economy Plan Backed by Gates, Rockefeller and Banks was the previous entry in this blog.

New Climate Change Legislation Passed is the next entry in this blog.

Find recent content on the main index or look in the archives to find all content.


Add to Technorati Favorites
Technorati search

» Blogs that link here

Locations of visitors to this page
Powered by Movable Type 4.1