Climate Law Update: Climate Change & Sustainable Energy News : Thelen Reid Law Firm : Renewable Energy, Construction, Project Finance Lawyers & Attorneys

Stocks might be sliding, oil is at a record high and the economy is in the doldrums, but venture capital investment in clean technology is showing no sign of slowdown, according to this story in today's San Francisco Chronicle. In fact, it is booming.

According to a recent report cited by the Chronicle, VC investment in clean tech hit $2 billion in the second quarter, up a whopping 60 percent from last year. Most of that investment was in solar thermal (pictured) and second-generation biofuels, which can create fuel from sources such as algae. And most of the money came from Silicon Valley. Where else?  

For those companies seeking capital, perhaps there is a home-field advantage at work. The largest chunk of cash -- 40 percent -- was distributed to California companies while U.S. companies attracted 74 percent of the total.

European companies attracted another 13 percent, mostly in the U.K. China came in third at 12 percent and India received just 0.6 percent.   

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• John Doerr, Silicon Valley venture capitalist, explains why cleantech is "the biggest economic opportunity of the century" and his four steps for solving global warming.
• China is ramping up polysilicon production, but will remain a small player for some time, according to THT Research.
• CNET reports on the debate over ethanol's carbon footprint.
• The New York Times reports on how technology is smoothing the way for home wind-power turbines.
• Reuters reports that the EU is on track to meet wind energy goals.
• Solar power boom continues in Europe.
• The Telegraph reports that scientists are underestimating the impact of climate change on sea levels.

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