PV Powered Seeks $10M

A Portland Business Journal article today featured Bend-based PV Powered, which makes inverters for solar cells (inverters convert the DC current that comes out of solar cells to the AC current that residential and commercial users need). The article lists a few industry statistics:

"Over the most recent years, VC (Venture Capital) has been flowing into these companies at an incredible rate,", said Mark Bachman, an equity analyst with Portland-based Pacific Crest Securities. "It's enabled the industry to grow and reach technological innovation quicker than we've done in the past." Clean-energy investment increased from $55 billion in 2006 to $77.3 billion in 2007, according to the latest report from Clean Edge, which has offices in Portland and San Francisco. The solar industry is now a $20.3 billion business, according to Clean Edge, and could grow to $74 billion by 2017.