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Introduction
The Green Bubble is a theory that the world is facing an over-investment in renewable energy and that the current levels of debts in many clean tech companies are unsustainable. As the interest rate rises many of the projects that are on the market today will go bust, which is claimed to become a big set-back for the renewable energy industry.

The term has been mentioned by several people but one of the most noted are Per Wimmer, Danish investor and author of the book "The Green Bubble". The magazine Wired has also been a proponent of this theory,  stressing what happened to the solar energy company Solyndra. The theory was also described in an article by Ted Nordhaus and Michael Shellenberger in 2009, "The Green Bubble: Why Environmentalism Keeps Imploding."

History of development in green technology
The history of green technology, also known as renewable energy, is not quite new. According to Alexis Madrigal, the author of “Powering the Dream: The History and Promise of Green Technology”, there have already existed a large number of windmills and solar heaters in the early 20th. Despite the fact that various green technologies have been developed and used for centuries, the history of minor technologies is quite obscure since there are a few credible records.

From the early 21st, there had been a large development and investment in renewable energy industry such as hydroelectricity, wind power, solar thermal, and geothermal. It is known that a “mini green bubble” had already taken place between 2005 to 2007, being terminated by the recession in 2007. The bubble made a drastic fluctuation in stock prices of companies with respect to green technology; for instance, the stock price of World Water & Solar technologies Inc., which deals with solar powered water pump, once experienced a steep rise from 5 cents to $2.50 in 2007, subsequently facing a decline to 29 cents after the recession.

However, the whole amount of global investment on renewable energy had still increased until 2011, from 40 billion dollars in 2004 to 279 billion dollars in 2011. By contrast, the amount of investment had decreased between 2011 and 2013, from 279 billion to 214 billion dollars. This decline is said to be attributed to the improvement in the efficiency of technology costs.

Is It a Green Bubble Happened or Happening? Facts and History
Are we Headed toward a Green Bubble? is the name of the Julie Bennet's article, which provides interesting facts and opinions regarding green technology markets. Bennet suggested that a mini Green Bubble deflated during Prime Crisis in 2007 and the green market was in a pivotal time in 2010: If the economy recovers, the green market may emerge or simply a green bubble will explode. The article argued high promises from the green tech sector that may not be accomplished. For example, CleanEdge predicted that global markets for bio fuels, wind and solar energy will reach 325 billion by 2018. However, only 3.4% of total electricity expended in the U.S. came from renewal energy in 2010, while other related industries, including electric cars and solar energy, are still not competitive in their markets.

The [mailto:http://mail@wired.com Juliet Eilperin's] article: "Why the Clean Tech Boom Went Bust", provide some evidence regarding the fact that green technology sector is not growing as fast as the market expects. The article argued that The Obama administration intention in 2009, was to increase the investment in green technology markets, providing US$ 150 billion for development. Green Technology markets may receive more subsidies for development than any other technology industries, Eliperin indicated. Another interesting fact provided by Eilperin's article is the highly divided characteristic of the green technology market. According to Ernest and Young, green technology market is ddivided in 46 different categories,and could be possible to find some specific market with emerging bubbles.

Reid Lifset in "Beyond the Green Bubble", provided a new point: green technology market is following the issue-attention cycle studied by Downs in "Up and down the ecology, 1972", which basically emphasized the cycle idea of a market governed by public policy. Lifset suggested that there was a Green Bubble before Prime Crisis, which could had provided opportunities for new investors in the market. He also argued that the green technology market will keep its enthusiasm mostly encouraged by government agencies.