Wind-Power Market Blows Cold
The climate is getting worse for wind-power companies, which are finding it increasingly difficult to attract venture backers. Investment in U.S. turbine farms and wind-energy businesses tumbled 38 percent last year to $9.7 billion, according to data from Bloomberg New Energy Finance. Venture capitalists have practically left the sector altogether. They invested only $177.6 million in wind startups last year, down 71 percent from the year before, BNEF found.
Wind power is bucking a broader trend for clean energy, which is experiencing a surge of investment. Venture backers pumped $4.29 billion into the green tech industry in 2011, up 13 percent from the previous year, according to the National Venture Capital Association. With wind, itâ€™s harder for early investors to afford the large outlay of cash needed to get a business off the ground