Report: Cleantech Investment Up In Q2, But Solar Spending Down

Venture capital investment in cleantech hit $1.2 billion in the second quarter of 2009, up 12% from the previous quarter, according to estimates from the San Francisco-based market-tracking firm Cleantech Group and consultancy Deloitte.

Year-on-year, Q2 cleantech investment was down 44%, but analysts say the sector seems poised for growth, thanks to factors like the drive by the Obama administration and Congress to reduce U.S. dependence on fossil fuels.