carol murphy

6:12pm

Thu November 10, 2011
Energy

High-profile failures "part of maturing" of green tech sector

Beacon Power, now filing for bankruptcy, set up shop to to store power from the grid using flywheels
Tom Ryan via Flickr

Federally subsidized energy projects have struggled recently.

First solar power firm Solyndra shut down, putting the Department of Energy on the hook for hundreds of millions of dollars in loans. Then Beacon power - another company that had benefited from the same program - filed for bankruptcy.

But Carol Murphy, executive director of the Alliance for Clean Energy New York, says the local green energy sector has taken these high-profile failures in stride.  

"If you look nationally it's not just green energy companies," she argues. "People have been jumping on these stories now, but for any startup company there's a high rate of failure."

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