GE sees more casualties in wind and solar

“Uncertainty about the tax credit had led to a rushed 2011 and 2012 wind farm building cycle, while new development plans for 2013 have plummeted.”

Reuters reports,

General Electric Co. expects increased competition and a reduction in subsidies by cash-strapped governments to lead to more companies exiting the wind and solar power businesses, but the industrial behemoth still sees growing long-term demand.

“There’s going to be a lot of casualties in the wind and solar businesses, there already are in solar,” John Krenicki, who leads GE’s energy division, told Reuters in an interview on Monday…

Read the entire Reuters report.

2 thoughts on “GE sees more casualties in wind and solar”

  1. Without Govt. subsidies and support, “alternative” energies are not cost effective at this time in history.

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