Despite the support expressed by both presidential candidates, alternative energies like wind and solar face huge challenges because of the credit freeze and the drop in oil and natural gas prices, according to The New York Times. Shares of alternative energy companies have fallen due to fears that they'll have trouble securing venture capital.

"Everyone is in shock about what the new world is going to be," said V. John White, executive director of the Center for Energy Efficiency and Renewable Technology, a California advocacy group, in the article. "Surely, renewable energy projects and new technologies are at risk because of their capital intensity." The report added that venture capital financing for some "advanced solar projects and for experimental biofuels," such as more environmentally-friendly ethanol made from plant wastes, is drying up, according to analysts tracking the flow of investment capital.

The bright side this time, in comparison to the alternative energy collapse in the 1980s, is that there's more public support for renewable energy investments, and that coal remains expensive and faces increased scrutiny due to its impact on the environment. All of this will play out in the background as automotive manufacturers trip over themselves to introduce alternative fuel vehicles over the next several years—the question remains to what extent.