In some cleantech sectors we’re nearing the end of painful times, but 2013 will still be a challenging year. VC funding remains tight, solar is seeing further consolidation, and the production tax credit for wind and power will likely expire.
The thrust of investing will move toward companies serving unsubsidized markets where software plays a role in reducing power consumption. In many ways this is a return to plays for energy efficiency. And companies like Tesla, Opower, SolarCity, and Calxeda have the potential to show that there is still money to be made from business models built around saving energy.