According to a release from the Sacramento Regional Technology Alliance the west coast may become a serious green technology “powerhouse.”

The Sacramento region has the potential to explode into a powerhouse for clean energy research and technology in much the same way that Santa Clara became Silicon Valley.

That’s the conclusion of a report just released by the Clean Energy Business Incubator Project of the McClellan Technology Incubator and the Sacramento Regional Technology Alliance (SARTA). The report, titled Clean Energy in the Capitol Corridor: Making the Region a Green Powerhouse, details the many benefits that exist for the area when it comes to clean energy technology.

The report defines a number of ways that the development of green technology companies would benefit the region including:

The addition of more than 10,000 high-paying jobs in thriving businesses and research centers
New opportunities for Central Valley farmers to grow high-value crops for fuel, chemicals and medicines
New export trade possibilities, tapping into the $100 billion per year global market for clean energy
A substantial increase in energy efficiency and a huge reduction in dependence on fossil fuels

In order to spart interest in companies so they’ll invest in the area the report is to spark venture capital interest in the area by proposing a $50,000 competition among the region’s high-technology start-up companies to help synergize and leverage the vast capabilities of the area’s clean energy intelligence and research expertise.

The contest, which proposes to offer a $25,000 grand prize, $15,000 second prize and $10,000 people’s choice award will be designed to challenge the Capital Region’s many high-tech companies and entrepreneurs to create business plans designed to bring clean energy technologies to the market.