Venture Capital Firms Continue to Increase Investments in Solar Power
Venture capital firms in the US have invested over $67 billion in the solar sector, which is more than double the investments in 2004. Analysts are predicting the solar industry will grow from $6.5 billion in 2004 to almost $19 billion in 2010. This increased interest in renewable energy is in part due to recent record high oils prices. Demand for solar power has been strongest in Europe and Asia, but demand in the U.S. has been increasing dramatically. Some U.S. solar manufacturers have back orders for solar panels and have pre-sold their entire plant capacity. On Wall Street some of the top tech IPOs were solar companies, including Chinese solar firm Suntech Power.