IBM: Green IT Still Going Strong

Tech spending may have taken a hit with the onset of the global economic crisis, but firms are still willing to spend big money on green IT. This is the message from tech giant IBM(IBM), which has thrown its considerable weight behind eco-friendly technologies.

"What we're seeing is that there is no slowdown," said Rich Lechner, vice president of the company's energy and environmental business. "It's being driven by the need to reduce costs, both operating costs and capital investments."

Lechner told TheStreet.com that in more than a third of the IT projects conducted in 2008, the primary drivers were energy efficiency and green issues. "We will find it that it will be the same [level] or more [in 2009]," he added.

Despite Lechner's optimism, there are signs that the recession has taken its toll on the green IT agenda. Research recently released by The Cleantech Group and Deloitte, for example, found that venture funding for "clean technology" has fallen dramatically in the economic downturn.

During the first quarter of 2009, VC funding of clean technologies such as solar power and biofuels dropped by 48% compared to the prior year, the report said, as the recession impacted investors.

IBM, however, is confident that President Obama's stimulus package will re-ignite the green agenda.

"There's over $5 billion of stimulus money tagged for energy efficiency," said Lechner, adding that companies are becoming more aware of energy compliance.

With energy efficiency standards established in more than 22 U.S. states and many countries looking to rein in power use, IBM said that users are already rethinking their data centers. More than 80% of the CEOs recently surveyed by the firm said that climate change requirements will affect their business within the next five years.