In Silicon Valley, investment in clean technology — from alternative energy products, like solar panels and hybrid cars, to the use of nanotechnology to solve environmental problems — went from $34 million in the first quarter of 2006 to $290 million in the third quarter, according to an annual report released Sunday by Joint Venture: Silicon Valley Network, a research organization in San Jose, Calif.
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Stephen Levy, an economist with the Center for the Continuing Study of the California Economy, said the growing demand for clean technologies might well make this emerging boom cycle a lasting trend. Developments on the legislative front may help stimulate that growth. In September, California lawmakers set a goal of cutting the state’s greenhouse emissions 25 percent by 2020.
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