by Boyd Cohen, Ph.D., for 4entrepreneur.net

I have been teaching and researching green entrepreneurship since 2001 throughout the world (Spain, Costa Rica and Canada).  While in the beginning I was seen as a left wing tree hugger teaching these topics in business schools, over the past few years, I have found students increasingly engaged in the topic.  While many events have led to an increasing interest in the topic-both good and bad-such as Hurricane Katrina exacerbated by global warming, Al Gore’s movie Inconvenient Truth and subsequent concerts LIve Earth, I sense that Barack Obama’s candidacy and subsequent election to the Presidency of the U.S., has really excelled interest amongst students, entrepreneurs and investors in green entrepreneurship.

Most of the conversations have swirled around renewable energy, and rightly so.  Over-dependence on foreign oil while fighting multiple wars in the Middle East, a new-found recognition in the U.S. (the rest of the world has know for a long time) of the importance of addressing global climate change, and an appreciation for the possibility of investments in renewable energy helping to turn the U.S. and global economy around.  Renewable energy is no longer in the dark but rather front and center in the world of entrepreneurship.

If you are an aspiring entrepreneur renewable energy, from solar to wind to geothermal, hydro and biomass, pose substantial opportunities for scalable, fundable, and highly profitable ventures. These ventures also have the potential to significantly help reduce global warming, create green jobs and reduce U.S. dependence on diminishing supplies of foreign oil.

One problem overlooked however, when speaking about opportunities in renewables.  The capital requirements to launch a renewable energy venture are very substantial.  While more than $8 billion was invested in renewable energy/cleantech startups last year, a young (in age or experience) entrepreneur may have difficult times getting sufficient funding to get a renewable venture off the ground.  However, an often overlooked area of opportunities within the renewable energy sector for entrepreneurs relates to the application of renewable energy technology to build products that harness renewable energy. 

For example, Carmanah Technologies (http://www.carmanah.com/), based in Victoria, Canada has built a sizable businesses by developing products that rely on solar power to operate.  They don’t build the solar panels for their products, such as marine and airport lighting, but rather contract out the development of the panels to serve their needs.  This is a good example of a successful growing technology businesses leveraging the growing movement towards renewable energy without requiring the capital infrastructure of a wind or solar power installation.  Other examples of lower capital startups are businesses that support the renewable energy supply chain. For example, service-base businesses that help individual homeowners install solar-powered hot water heaters or ground source heat pumps also have the potential for sizable profits without a sizable up-front investment.

Renewable energy opportunities are substantial but they are also just the tip of the melting iceberg.  Opportunities abound in green building, transportation, sustainable agriculture, forestry and mining, ecotourism and digital/mobile technologies.  Make tons of money and help change the world-who said being green means making sacrifices?

Boyd Cohen, Ph.D., LEED AP
Founder and Chief Beluga Officer, 3rdwhale.com
www.3rdwhale.com

Posted via email from Jay’s posterous

Tags: Obama's renewable energy entrepreneurs, renewable energy