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Investors abandon solar for more profitable technology

Published on NewsOK Published: February 25, 2013

Michal Conger

Venture capitalists that poured money into solar technology, including bankrupt solar panel maker Solyndra, are moving on to electric grid technology after their solar investments proved less than profitable.

Renewable energy has been a major target for investors, but investment in those companies is dropping as venture capitalists switch to more lucrative technology, according to Bloomberg.

“Venture capital and private-equity financing for renewables dropped to its lowest in at least six years in 2012, according to data compiled by Bloomberg,” the business news outlet reported today.

Click to read full article at Washington Examiner