If investment is any guide, California's renewable energy companies are leaping into the new year. Investors poured billions of dollars into clean tech in 2007 to catapult green technologies to market. In the first three quarters of 2007, U.S. venture capital firms invested $2.6 billion in clean tech companies. That's compared with $1.8 billion for all of 2006.
Over the past year, a few types of renewable energy have seen a lot of attention. One is solar thermal power - a form of energy that hasn't been built in decades. In the 1980's, several large solar thermal plants were built in the Mojave Desert. The technology sounds pretty simple: Mirrors are used to reflect sunlight onto on a liquid or substance, usually water. The water is super-heated by the sun and bingo - becomes steam. The steam is then used to turn large turbines. California utilities are starting to look these plants again, and companies like Ausra in Palo Alto and BrightSource Energy in Oakland are benefiting.
Thin-film solar is another area that has gotten a lot of buzz. Only a few companies are currently selling thin-film. While today's panels aren't quite as efficient as silicon solar cells (the kind you see on rooftops), many are hoping they'll be cheaper and stronger. That makes it easier for companies to manufacture Building Integrated Photovoltaics - building materials like roof tiles with solar built-in.
Energy efficiency is another area companies are getting into, and in this case, it's energy management. Several companies are working on devices would manage energy use in your home. They could feed power from a solar system back to the grid and turn on your appliances late at night, when power is cheapest. PG&E is taking a step forward by installing Smart Meters in homes now - new digital electric meters that provide real-time data to customers and utilities. After that comes real-time electricity pricing for those who want it, meaning it’s not just how much you use, it’s when you use it.
You may listen to the "The New Clean Tech" radio report online, as well as find additional links and resources.
