In Silicon Valley, Venture Capitalists Turn Cautious and Focus on the Short Term

from NYT...

CLEAN TECH GETS REALISTIC Venture capitalists are still chasing clean technology. Through September, $3 billion was invested in technologies that create alternative energy and conserve power, up from $1.9 billion the year before, according to the National Venture Capital Association. But big, expensive projects like building factories to manufacture solar panels or biofuels are falling out of favor.

“The economic arguments for those businesses literally went upside down in a year,” said Paul Holland, the general partner in charge of the clean tech practice at Foundation Capital.

Instead, some venture capitalists are looking at technologies that monitor energy demand, like software that tracks and regulates a building’s energy use.

http://www.nytimes.com/2009/01/05/technology/start-ups/05venture.html?_r=1