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The Low Carbon Economy Ltd

31 Jan 2011 12:01:07

Investment in clean tech 'must be incentivised'

Investment in clean tech 'must be incentivised'
More incentives are needed to encourage investment in clean technology businesses, according to sustainability advisors Greenbang.com.

Dan Ilett, editor in chief of the website, said currently clean tech is "reasonably poorly defined", however, all those covered by the term – such as renewable power and energy saving technology – have "got their problems".

Speaking specifically on the issue of renewable energy, Mr Ilett said the industry has essentially "hit a wall", as there is little incentive for people or companies to invest in the sector.

However, he added: "In all honesty the solutions are already here that could make a bigger difference and we should be focusing on those first before looking at sexier, shiny technology that isn't proven so far."

The comments come after a survey by Ernst and Young found 13 percent think the conditions needed for success in the clean tech sector will be present in 2011, compared to 38 percent in a similar survey conducted last autumn.

A fall of ten percent was also seen in the number of respondents who believed clean tech investment will increase this year, down to 51 percent. ADNFCR-1235-ID-800374259-ADNFCR

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