According to a new survey of VCs from KPMG, clean tech will see the most money invested in 2008-2009. Clean tech was viewed as the most likely biggest winner by 24 percent of respondents, followed by biotech and pharma, Internet services, and mobile technology. In Europe, clean technology VC money doubled in 2007 and will continue to grow rapidly.

VCs are betting big on clean tech because of rising oil prices and concerns about climate change. The rising price of oil is a contributor to a slowdown in economic growth, and clean tech is rightly viewed as the anti-oil solution. The rise of clean tech is a transformative event that could result in job growth and more manufacturing within the U.S. It will be a bumpy ride, but many VCs are looking forward to holding on tight.