I'm doing my own renewable energy startup right now, with our own innovations in turbine design. And while the engineering is critical, it is not the problem with the industry.
Energy startups fail primarily due to a lack of appreciation for the intensive capital required to make renewable energy work.
This is an industry where every project will cost millions of dollars, hundreds of millions, or even a billion for truly large-scale operations.
And that is EVERY project. You do not just come up with a design, test it, then repeat it 500 times. Each site has its own unique properties, each turbine need to be manufactured and shipped, connected into a grid, operated and maintained.
So you need a permanent source of massive amounts of cash to operate. Your standard VC firm normally is not an option because the ROI is likely to be 10 years out, and that is too long for most investors.
When the ROI does come in, it is massive. But this is a high-risk, long-term play, and it just doesn't match the interest of most VCs.
We have built our first production units, field tested them, and are ready to roll, but have spent the last 3 months lining up finances because we do not want to be another failed company added to the list.