Tapping into the green tech surge

US President Barack Obama recently used his weekly address to urge his nation to invest more in the development of clean energy technology so as not to lag behind other countries.

“We’re in a competition all around the world, and other countries – they know that clean energy technology is what is going to help spur job creation and economic growth for years to come,” Obama said.

Meanwhile, the South Korean Government has announced plans to invest US$4 billion this year in the development of clean energy technology, such as solar and wind power, up 23% since last year.

The shift towards clean energy technology confirms there are plenty of opportunities for businesses to tap into the burgeoning market.

AquaGen Technologies is an example of an Australian company already doing this, with technology that can harness the energy of ocean waves to produce electricity or desalinated water.

As we explored recently, political and investor conditions in Australia aren’t as hospitable to green start-ups as they maybe should. However, with a carbon price little more than a year away, and with funds expected to flow into renewables as a result, now is a good time to start planning a move into the green space.