Monday, February 25, 2013

Silicon Valley Shifting to Power Grid After Solar Sours

Silicon Valley Shifting to Power Grid After Solar Sours - Bloomberg:
Silicon Valley investors that helped build the solar industry are shifting cash into electricity-grid technology and energy-storage developers after bets on panel manufacturers failed to pay off.
Companies including VantagePoint Capital Partners and Khosla Ventures are stepping up funding for systems to manage electricity, which are typically less capital intensive than solar-panel factories. Venture capital and private-equity financing for renewables dropped to its lowest in at least six years in 2012, according to data compiled by Bloomberg.
“We continue to push energy efficiency, which is less capital intensive and allows a company to get into a very big market by improving existing infrastructure rather than having to build a new way of delivering power,” said Neil Suslak, a managing partner at Braemar Energy Ventures. “Efficiency and capital-light deals are the flavor of the month.”
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