According to a new Crunchbase article on cleantech investing under the Biden Administration, venture investors and startup founders believe the president-elect will likely spark renewed private-sector investment in cleantech and clean energy. With Biden’s agenda focusing on steering away from fossil fuels, cutting greenhouse gas emissions, investing in climate progress, investors anticipate an increase in Department of Energy-funded projects, more access to federal land, and expanded opportunities to invest in startups.
Under the current administration, the private sector and many state governments stepped up to fill gaps in federal policy around climate change. Cleantech investments ramped up between 2012 and 2018, leading up to a peak of $4.9 billion invested in 2019. In the past eight years, the most popular industries in terms of venture funding have been renewable energy, solar, and sustainability. In 2021 and beyond, there will likely be a focus by investors on consumer-facing cleantech, energy alternatives and software rather than infrastructure, which remains highly capital-intensive.
Interested in learning more about cleantech investing and implications of the Biden presidency on the industry? Please join us this Friday, December 4, at 12:00pm MT for a free RVC Community Webinar focused on the cleantech industry. Register here!