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Green Energy Startups Hit by Green-Back Shortage
By Greg Jones on 2008-12-31 10:12:11
Despite the growing need and interest in greener, alternative energy sources, it appears that even they are being hit by the credit crunch. In 2008, ethanol companies saw the largest hit, some losing as much as 90% of their stock value. Some of this loss may be attributed to growing concerns about the viability of corn-based ethanol, however much of the stock loss can be marked up to weak credit markets and shaky commodities.
Ethanol was not the only alternative energy source to face trouble in 2008, with solar and wind companies still losing money despite massive tax incentives.
In a year where overall stock losses were in the 40% area, it would be unexpected for any company to perform well, but it seems the superfluity of green solutions may have taken a greater hit - being seen as a luxury rather than a necessity when compared to cheaper existing energy solutions.
As oil prices continued to decline drastically, it became financially risky to invest in green energy solutions that tend to be more costly up-front.
Ethanol was not the only alternative energy source to face trouble in 2008, with solar and wind companies still losing money despite massive tax incentives.
In a year where overall stock losses were in the 40% area, it would be unexpected for any company to perform well, but it seems the superfluity of green solutions may have taken a greater hit - being seen as a luxury rather than a necessity when compared to cheaper existing energy solutions.
As oil prices continued to decline drastically, it became financially risky to invest in green energy solutions that tend to be more costly up-front.
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