By Thomas Weisel Partners
November 2008
The Obama-Biden energy policy is expected to give a boost to the alternative energy / cleantech industry
- The Obama-Biden New Energy for America plan calls for the investment of $150 billion over 10 years aimed at reducing carbon emissions to 80% below 1990 levels by 2050
- The plan, based on an economy-wide cap-and-trade system, is focused on commercialization of plug-in hybrids, commercial scale renewable energy, energy efficiency, clean coal, next generation biofuels, and smart grid development
- The troubled economy likely means that far reaching energy legislation, notably caps on greenhouse gas emissions, is unlikely to pass at first
- All fourteen alterative energy / cleantech groups finished in negative territory during the month, each group finishing more than 8% down
Despite difficult conditions in the public markets, the alternative energy / cleantech sector has seen increased activity in the private markets in 2008
- $1.2 billion was raised in October marking the third consecutive month that $1 billion has been raised
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