Clean Tech 2014: An Overview of Last Year's Top Headlines

This is an updated version of an article first published on Cleantech Investing News on July 16, 2015. 
“Is this the end?” was the question on every clean tech investor’s lips in 2014. And indeed, the year was controversial for clean tech: 2014 began with the broadcast of a “60 Minutes” segment criticizing the sector. The episode prompted a slew of backlash, and clean tech investors jumped to defend the struggling industry.
The jury is still out on the future of the clean tech space, but looking back, the sector pulled through 2014 quite successfully. Indeed, the industry even saw some growth as China continued its heavy investment in the sector.

Controversial “60 Minutes” broadcast

On January 5, 2014, CBS’ (NYSE:CBS) “60 Minutes” ran a segment criticizing the clean tech sector’s lack of progress towards creating viable energy alternatives. Citing the $100 billion in loans, grants and tax breaks that the sector received under the Bush and Obama administrations, the news broadcast claimed that “instead of breakthroughs, the sector suffered a string of expensive tax-funded flops.”

Clean tech 2014: year of the industry’s demise?

Forbes’ dire prediction about the state of clean tech was prophetic in at least one way: 2014 was the year of predicting the end of clean tech. The “60 Minutes” episode spawned a slew of articles commenting on whether or not clean tech was doomed. In July, TechCrunch argued that a resurgence of interest in the sector was taking place, with the first quarter of 2014 being one of the most active in the last five years.
That said, it seems as though the jury is still out on the future of clean tech. Only time will tell if the industry can find innovative ways to grow.

Regional growth: China holds clean tech investing supremacy

Clean tech investing does continue to expand in some regions. In February 2014, Greentech Media reported that China holds a commanding lead in clean tech investing compared to other major regions, including the US and Europe. According to a National Science Foundation report on science and engineering indicators, “the uninterrupted growth of clean energy investments in China reflects the government’s policies targeted at wind and solar energy to make China a major world producer in these technologies and to reduce China’s reliance on fossil fuels.”
This news was in keeping with Bloomberg New Energy Finance’s report, also published in February 2014. It states that in 2013, China outspent the US for the first time in the $15-billion smart grid market. That year, China spent $4.3 billion on smart grid technology, whereas US spending fell by 33 percent to reach $3.5 billion.
Chinese growth aside, 2014 was undoubtedly a challenging year for the clean tech industry. However, it provided an important lesson for investors: while the clean tech industry is going through a difficult period, potential for growth remains in this eco-friendly market.