Green tech business--how hot is it?

Silicon Valley is ever open to new technology, and possibly even new ways to make millions. So it's no surprise with the current interest in green technology, high energy prices and overall unpleasantness on Wall Street has investors looking at green tech as a place to place their bets. The Churchill Club just held a conference on green technology investment and ZDnet was all over it.

The big guys from GE to Peabody, the coal company, are never innovation leaders...so they're turning to the start-ups for help to green their business. One exec said you have to be careful which big corporation's you partner with.

One source of progress in technology is particularly feeding the green tech boom. That's a whole series of innovations in materials science. And then you add much higher energy prices and you get business plans that could change the future of energy and other industries. There is also a change in the mindset of investors: green can be green, can make a profit.

Here's what some investment pros think about current green tech valuations. One exec: we don't count on the market staying this way. "Perfect storm?" Another exec: there's an energy shortfall and U.S. currently uses resources at a rate of 30 times greater than world average. Others want to catch up. Especially China which is driving up world raw materials prices.

Government subsidies? German exec, says bring it on. Investor: I won't bet on any company that depends on subsidies. Another says, there are subvsidies everywhere. Look at the oil industry.

Green tech is happening and these folks are talking about a sector in which they are active decision-makers.