'Cleantech' next boom during recession?
Silicon Valley investors are pointing to something called cleantech -
alternative energy, more efficient power distribution and new ways to
store electricity, all with minimal impact to the environment - as a
candidate for the next boom.
And while no two booms are exactly alike, some hallmarks are already
showing up.
Despite last fall's financial meltdown, public and private
investments are pouring in, fueling startups and reinvigorating
established companies. The political and social climates are favourable.
If it takes off, cleantech could seep into every part of the economy and
our lives.
Some of the biggest booms first blossomed during recessions. The
telephone and phonograph were developed during the depression of the
1870s. The integrated circuit, a milestone in electronics, was invented
in the recessionary year of 1958. Personal computers went mainstream,
spawning a huge industry, in the slumping early 1980s.
A year into the Great Recession, innovation isn't slowing. This time,
it's better batteries, more efficient solar cells, smarter appliances
and electric cars, not to mention all the infrastructure needed to
support the new ways energy will be generated and the new ways we'll be
using it.
(Courtesy AP)
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