Although facing a massive fiscal crisis and an increasingly discontented business community, California has maintained a substantial lead in one sector: clean energy. Investment in renewable technologies surpasses all other states, and legislative initiatives are pushing utilities to achieve a 33 percent renewable portfolio by 2020.
Nationwide, lawmakers and private ventures are pushing for similar goals, driven increasingly by emerging consumer demand.
Global Industry Analysts recently projected that the worldwide "green marketing market" will reach $3.5 trillion by 2017, and last month, Pew Environment Group reported that global clean energy investment reached $234 billion in 2010 - a 30 percent gain over the previous year.
"Several traditional businesses such as grocery outlets, electronic appliance stores and hardware/building materials stores are enhancing their portfolio to benefit from the trend towards green products," writes GIA in a recent report. "Despite the adverse market conditions, environmental considerations continue to drive consumers to invest in ethically produced and green products."
So what does this mean for California's green tech entrepreneurs and small business owners? Will rising global demand come to overshadow the state's current position as an industry leader?
Only time will tell. But in the mean time, renewable energy ventures may do themselves well to incorporate in California.
Tags : ca, operations, small business management
Posted: Apr 14th, 2011