Renewable energy is currently growing at a rate of 15-20% per year (Joules, though dollars can't be that far away), compared to energy as a whole (more like 2%). So it seems like it should be a massively expanding domain for investment.
after that, most companies looked to China. But then there was a major stock market collapse in the Chinese stock markets in 2015. By this point it was really only a few companies left, there was very little systematic investment in cleantech as a sector from 2014.
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but compare the performance of VC's in cleantech vs Elon Musk, who exhibits a vastly higher level of commitment to each project. It's not even close. VC model was to look or a set of later stage investors that didn't really materialize. EM self funds, VC's give up.
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