Recessions vs. Sustainability

Windmill Generators
Originally uploaded by George Lu

Freakonomics has a post from yesterday in which three economists/clean tech experts (George Tolley, John Whitehead & Ethan Zindler) provide their views on how the the financial crisis will affect the clean technology industry.  They see the momentum in the private sector slowing, but seem fairly bullish on the long term prospects for the "green" market.

All of the market-based factors that were contributing to the inevitable (someday) Hotelling switch point are gone. The gap between renewable and nonrenewable prices is widening instead of shrinking.

...A good guess is that almost all large, private renewable-energy investments will be put on hold in 2009.

...That said, the industry still looks good for the long run. The fundamentals that spurred its growth originally haven’t disappeared. Yes, oil has fallen since a year ago, but it is still high by historic standards.