Green Innovations

Developing renewable and clean technology companies in New York

Monday, November 16, 2009

Pew Center looks at the Clean Energy Economy, state-by-state

One of the most comprehensive reports produced on the clean energy economy is now available on-line.  The Pew Centers' report tracks clean energy jobs, businesses, patents and venture capital investments over the past ten years, with state by state dashboard indicators.

It's a fascinating look at who is innovating.  While noting that the industry is still in its infancy, the report concludes that this sector is growing faster than other components of the economy -- and that while the economy faltered over the past year, VC investments in clean tech produced better returns than other sectors.

Here is New York's scorecard:
  • Number of businesses in the clean energy economy:  3,323
  • Number of jobs in the clean energy economy:  34,363
  • Number of patents in the clean energy economy (1999 - 2008):  909
  • Amount of VC invested in NY clean energy economy sector:  $209,590,500
Only California had more patents, 1,401, over the same time frame.

Given NY's strength in financial sectors, it was not one of the top performers when it came to VC investment in the clean energy sector.  Top states for VC investments were:
  • California:  $6,580,426,908
  • Massachusetts:  $1,278,461,918
  • New Jersey:  $282,567,651
  • Pennsylvania:  $232,897,084
The entire report is well worth a read: