{ 08 SEPTEMBER 2009 } The numbers vary, but one thing is clear: The largest economy in the world, the United States, will be spending more money than ever before on cleantech in the wake of the Obama administration’s stimulus package. The Institute for the World Economy (IfW) estimates that expenditures for green technologies could very well total some $110 billion, including funding for such issues as renewable energies ($33 billion), energy efficient buildings ($31 billion) and water supply infrastructure ($16 billion). Approximately 20 years after the green movement in Europe paved the way for European governments to back cleantech investments, the United States is now embarking on an enormous race to catch up – and in the past, this country has demonstrated its ability to do so! A green Silicon Valley While this is fueling a VC cleantech boom in the U.S., the green billions in stimulus money also represent a tremendous opportunity for European players. Companies based in Europe are now reaping the fruits of a 20-year cleantech tradition, an entrepreneurial culture in this field, a large base of well-trained engineers and a well-established ecosystem – and are therefore well positioned to benefit from the emerging market opportunity in the United States. Conditions in Central Europe are reminiscent of a green Silicon Valley that is now looking toward the West to become a part of the Cleantech Rush. For a new generation of start-ups, the U.S. opportunity also represents a chance to overcome the main hurdle standing in the path of broad-based adoption of clean technologies in the Old World: The general skepticism on the part of customers toward new players and the desire for a 100-percent solution prior to adoption. The U.S. market is poised to be more open toward initially imperfect solutions, looking to learn and adjust them to produce more mature solutions over time.
Think globally The EnOcean Alliance is global in scope and reach, and this kind of global approach is becoming increasingly essential for cleantech companies, as Asian governments are planning to spend even more money than the United States on eco-friendly investments: IfW estimates that some 20 percent, or more than $250 billion, of the stimulus packages in the Asia-Pacific region are being earmarked for environmental protection and renewable energies. Granted, the lion’s share of these funds will be spent by the mercantilistic Chinese government, and the largest amount of its stimulus package is dedicated to rail transportation. But a growing awareness of climate change in both China as well as such more developed countries as Japan, South Korea and Taiwan will ease market entry for foreign players – a global opportunity is opening up.
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