The failure of this administration’s green jobs and targeted subsidy initiatives doesn’t mean that green innovation is dead. In fact, without clueless bureaucrats, lobby-connected insiders and green zealots making investment decisions they don’t understand, the serious business of making the world cleaner and more efficient may go forward faster than ever.In the wake of Solyndra-gate, venture capital firms interested in solving the world’s energy problems are heading for greener pastures — both in terms of energy efficiency and their bottom-line.But they aren’t looking to big, pie-in-the-sky renewable energy projects that rely on government subsidies to compete with traditional sources. Instead, the New York Times reports, they are turning towards firms that take existing advanced software technologies and use them to meet current and future energy challenges. Examples include one company that analyzes energy usage and allows utility companies to communicate with their customers via text message when they electric bill is particularly high, and another that takes cars off the road by allowing owners to rent their vehicles on a temporary basis. The owner of the latter business said in the story, “You can have a major impact on an individual’s carbon footprint by re-creating business models or behaviors without inventing a new energy.”VC firms have nearly tripled their investments in these sorts of companies since 2009. While green hacktivists and international bureaucrats stumble from one failure to another, these hardheaded investors are driving the real solutions to the world’s future energy and climate challenges.
Venture Capitalists Succeed Where Green Planners Fail