For renewables seeking capital, the center of the financial universe has shifted from Wall Street to Washington, reports the New York Times Green Inc. blog. With venture funding hammered by the recession, renewable energy developers are turning to the government, seeking to take advantage of the funding opportunities for renewables included in the stimulus package.
For marine renewables, seeking government aid is nothing new. Because marine renewables are an emerging technology, they haven’t had access to the same types of private capital as their counterparts in wind or solar. In fact, with more renewables now seeking infusions from the government funding lifeline, marine renewables will face more competition for public funds even though more are now available.
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