I recently read about developments in venture capital funding in cleantech. According to VentureBeat, the funding for cleantech dropped dramatically compared to the first quarter last year, with the exception of energy storage (i.e. batteries). The NY Times has reported that venture capital is shifting to efficiency projects over alternative fuels.
My perspective on this is that automotive battery technology is preparing for real production. However, we might not be able to generate enough clean electricity for electric vehicles so we need efficiency across the board to provide that electricity. Basically, the new supply will come from conservation but it will be used by electric vehicles.