More and more global ventures are investing in clean technology in California according to the 2010 California Green Innovation Index. The report shows that California’s global leadership in green innovation continues to grow, attracting billions in investment dollars. Also, California’s green manufacturing jobs are growing while conventional manufacturing jobs are in decline. Overall, California’s economy has profited from efforts to improve energy efficiency and reduce its dependence on carbon. Californians have started getting out of their cars to use public transportation, or using more alternative fuels when driving.
The index states some interesting facts such as electricity bills are lower in California, and more importantly, more businesses are starting up in California than businesses leaving or closing. Another report featured in the index finds that California is experiencing a significant expansion in green manufacturing employment.
According to the report, the state accounts for 24 percent of global clean-tech investment and has attracted $11.6 billion since 2006. In the first half of 2010, the state brought in 40 percent of global clean-tech VC, exceeding the first half of 2009 by 246 percent. The San Diego area was among the leaders, and its $200 million in clean-tech VC last year more than tripled its amount from 2008.
San Diego leads the region
It might be the sunny weather or maybe the large number of research institutes that makes San Diego a world renowned for its natural setting for clean-tech. San Diego County’s role as a source of tech innovation has received official recognition from the state: Governor Arnold Schwarzenegger has designated the region an official California Innovation Hub. The San Diego iHub consortium consists of 35 partners including academic institutions, economic development groups and local trade associations, and will concentrate on three areas deemed to have the most potential to turn research into jobs: wireless health, bio-fuels and solar power/energy storage.
When it comes to solar, the greater San Diego area is a leader in solar energy (according to the California Solar Initiative). First of all, San Diego has the greatest solar PV adoption rates in the state. San Diego holds the title of being the “Number One Solar City,” thanks to the large number of solar PV rooftop installations, with over 100 solar energy businesses.
Much of the region’s success in the solar sector is due local universities and colleges such as UCSD and USD, which are currently installing large solar electric systems as part of their wide-ranging sustainable energy program.
The future is looking greener
As it seems, San Diego is one of the greener regions in the country, and its sustainable efforts are starting to pay off. Proposition 23 will determine whether California, San Diego in particular, will continue to develop in the clean-tech sector, and might even determine if San Diego can become the real capitol of clean tech and green venture.