According to some venture capitalists in Silicon Valley, America’s quick-paced advances towards more efficient energy production and conservation may mean that, by 2020, the US will be faced with a huge energy SURPLUS.
Is there any reason to believe they might be right? More, after the jump.
Venture capitalist Vinod Khosla predicted a US energy glut during a panel discussion at Google’s Silicon Valley campus last week. The panel discussed some possible implications of California’s Proposition 23 (an attempt to “push back” California’s aggressive climate legislation).
Khosla stole the show with his predictions about America’s energy prospects, stating that “in 10 to 15 years, we will be shutting down (power) plants because of an excess of electricity in this country,” citing an “infinite” opportunity for innovation.
So, I’m a pretty jaded guy… what do I think? Khosla impresses by putting his money where his mouth is, investing heavily in clean tech and backing several companies hoping to cut energy use in lighting and data server racks by as much as 80 percent.
In short, these guys don’t typically make their millions on a whim. VC investors look at market trends, profit/loss statements, and—sometimes—have a bit of a crystal ball, if they’ve been asked to invest in some revolutionary new tech. With all the money Khosla’s been putting behind this idea, you can bet his partners, advisers, attorneys, and accountants all think his predictions have some merit…
…in about 10 years, we’ll see if he’s right.
PHOTO CREDIT: Pttaya‘s Photostream, under a Creative Commons License.