By the end of last month (August 2006), venture funding for renewable energy was reported by Boston.Com to have reach up to $445.1 M in total investments in the first six months of this year. This is a reported 56.1 percent increase in the total amount of raised by the RE sector last year (2005's investments totaled $285.2 M, as compiled by the National Venture Capital Association trade group).

Venture capitalists and industry experts believe that oil prices have finally reached fever pitch and are worrying both business folks and consumers alike. Both are clamoring for alternatives, which seem to be flourishing in light of these investments.

Suddenly, what people thought of as an uneconomical approach to doing things has become plausible and even profitable. Take hybrid cars for example. With the success of the Toyota Prius, companies like A123 Systems from Massachusetts have drawn venture funding to fund the creation of a new kind of rechargeable lithium ion battery that would be more powerful and durable than those used by the Prius. Or take solar cells as another example. In Taiwan, the squeezing of profits from first mover solar silicon cell manufacturers mean that more people have invested in the competition.

Will an oil price o $30 water down investments in Renewable Energy? No one can say for sure. What people are certain of however, is the potential viability and sustainability of a business venture that focuses on Renewable Energies, and that will stand even if oil prices drop to year 2000 levels.