Silicon Valley’s dot-com era may be giving way to the watt-com era. Out of the ashes of the Internet bust, many technology veterans have re-grouped and found a new mission in alternative energy: developing wind power, solar panels, ethanol plants and hydrogen-powered cars.

It is no secret that venture capitalists have begun pouring billions into energy-related start-ups. But that interest is now spilling over to many others in Silicon Valley—lawyers, accountants, recruiters and publicists, all developing energy-oriented practices to cater to the cause.

The best and the brightest from leading business schools are pelting energy start-ups with resumes. And, of course, there are entrepreneurs from all backgrounds—but especially former dot-commers—who express a sense of wonder and purpose at the thought of transforming the $1 trillion domestic energy market while saving the planet.

The participants here say their whole approach to building new companies and industries is easily transferable to the energy world. But critics wonder whether this is just an echo of the misguided optimism of the Internet boom. And even those most involved in the trend say the size of the market opportunity in energy is matched by immense hurdles.

In the Internet boom, the mantra was to change the world and get rich quick. This time, given the size and scope of the energy market, the idea is to change the world and get even richer—but somewhat more slowly.

“There are real business models and real products to be sold—established markets and growing economics,” said George Basile, who has a doctorate in biophysics from the University of California, Berkeley, and specialises in energy issues.

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