At their inception, autos were considered speculative investments. In fact, so were railroads, the light bulb, telephone and internet. They'll never catch on. It'll be too expensive. No one will be able to afford it. There's no infrastructure for it. It'll pass. It's a FAD.
McKinsey feels "The world is on the cusp of a resource revolution".
So, is cleantech failing? In a word, no. Rather, the sector has experienced a cycle of excitement followed by high (and often inflated) expectations, disillusionment, consolidation, and then stability as survivors pick up the pieces. We’ve seen this before with other once-emerging technologies.
The shakeout is brutal—and typical. It has weeded out weaker players, making the industry as a whole more robust. Despite the rough patch, annual growth is at double-digit rates. It’s also important to look beyond financial statements. Global wind installations, for example, have soared about 25 percent a year since 2006 (exhibit). And global co
