10 Cleantech trends to watch for in 2023

In the past, cleantech was often seen as an altruistic endeavor with a questionable business case. That perception is rapidly changing as the economics of cleantech become increasingly compelling. With over $40B in venture funding in 2022, cleantech startups are poised to take off in the coming years. While there are still challenges to be overcome - the cleantech sector is attracting more and more attention from both the public and private spheres. It's an exciting time to be involved in cleantech, and the future looks bright for those dedicated to finding cleaner, more sustainable ways to power our world. So read on and learn more about the exciting cleantech trends that are creating a future that's cleaner and smarter for us all.

1. Renewable Energy

With the cost of renewable energy sources falling and the cost of fossil fuels rising, cleantech is becoming one of the most attractive investment opportunities in the world. By the end of 2023, nearly 33 percent of the world’s electricity is forecast to come from renewables. As more and more countries commit to decarbonizing their economies, the renewable energy sector is poised for explosive growth in the years to come. Solar and wind energy are becoming increasingly cost-competitive with traditional forms of power generation, making them a more attractive option for businesses and households. The falling costs of storage technologies are also making it easier for renewable energy to be used on the grid. In the coming years, we are likely to see more cleantech solutions being implemented in the renewable energy sector.

2. Green Buildings

Green buildings are designed to be more environmentally friendly and sustainable. They can use less energy and water and generate less waste. Green buildings are an increasingly popular cleantech trend, as more people are looking for ways to reduce their environmental impact. In the coming years, we can expect to see more green buildings being constructed. This trend is being driven by both the private and public sectors. In the private sector, companies are looking to green buildings as a way to reduce operating costs. The public sector is also investing in green buildings, as they offer social and environmental benefits.

3. Alternative Mobility

The traditional automotive industry is facing a number of challenges. As a result, the automotive industry is undergoing a period of transformation. This is creating opportunities for cleantech startups to develop new technologies and business models. One noticeable cleantech trend is alternative mobility. These include the rise of electric vehicles, the sharing economy, and autonomous vehicles. 

To learn about each trend and how you can capitalize on them, read our full blog.

About the Innovation Cluster

The Innovation Cluster is a not-for-profit organization that drives innovative, determined entrepreneurs in the formation and growth of their technology-based companies. Supporting four key sectors, agtech, digital, healthcare, and with a strong focus on cleantech, the Innovation Cluster’s dynamic programming and mentoring ensures startups find their best path to market.

Core Funding is provided by The City of Peterborough, Trent University, Fleming College, Peterborough Region Angel Network, The City of Kawartha Lakes, OMAFRA, Feddev Ontario, Ontario Trillium Foundation, and Peterborough Utilities Group. Visit www.innovationcluster.ca