Posted on 11/13/2023 4:20:48 AM PST by Oldeconomybuyer
Renewable energy firms are mostly suffering a dire earnings season as struggling supply chains, manufacturing faults and rising production costs eat into profits.
With the world trying to transition at pace toward cleaner energy, equipment manufacturers are struggling to keep up with soaring global demand, leading to rising production costs and questions over the economic sustainability of large-scale projects from the industry’s major players.
Specialist wind energy firms are also often finding themselves outbid for seabed licenses by traditional oil and gas players. Should they win a contract, electricity prices are often too low to justify the manufacturing costs, leaving companies looking to their governments in Europe and the U.S. to deliver greater subsidies and restore balance to the market.
As a result, most wind energy stocks are down sharply since the turn of the year.
(Excerpt) Read more at cnbc.com ...
Several years ago, I went to a seminar about wind farms vs. oil co ‘island’ as I live on the NC coast.
Things the wind farm companies never tell you:
It takes fuel to build and to run them.
EACH windmill is drilled THREE HUNDRED FEET into the bedrock of the ocean and 1200 of them were being proposed. Funny how the environmentalists never discuss how that will permanently alter and destroy the environment of sea life and also birds - which hundreds of thousands are killed every single year by windmills.
Each lasts around ten-ish years and the windmill companies wash their hands of them when they die and there are no recycling companies to dismantle them - they just let them rot away like skeletons for our forever viewing pleasure.
Who could have predicted that? Duh
Article is a strange mixture of happy talk and reality, with the author unable or unwilling to mention the contradictions within his own story. It’s like doublethink.
Well... That blows
when an industry is all air it’s bound to blow.
One thing you can’t easily find is the actual capital cost of these so called “green” energy sources. Georgia power has an enormous solar farm in South Georgia, and try as I could even writing to the PSC ( never got a response) I could not find out how much ratepayer money was sunk into this boondoggle.
What the greenies deliberately ignore and actively hide is that the capital cost of the rainbow and unicorn fart powered generation actually reflects the environmental impact of these forms of generation. The reason wind and solar cost so much is that they squander resources in inefficient unreliable generation and this translates directly into the environmental impact of this type of generation. Or to put it another way the fully amortized cost per KWH is directly proportional to the environmental impact.
Dominion Energy’s democrat CEO Bob Blue is forging ahead on his $9.8 billion dollar killing machines. Company stock once $90 and now $45.
Must have painted that CNBC clown to write this, he drew the short stick.
Here is the money line...
“leaving companies looking to their governments in Europe and the U.S. to deliver greater subsidies’
“pained”
LOL! Oh boy! Highly concentrated leftist idiocy.
Wind farms don’t blow. They suck.
That depends on which side of the fan you are standing. It could suck just as bad.
Keep tearing down those coal and gas power plants and removing dams to save the planet.
When they say earnings reduced they mean grants drying up. They are money fires.
——struggling supply chains——
This statement seems to mean that subcontractors or vendors can’t exist as suppliers to the wind energy manufacturers. That would seem to mean that being a vendor lacks the profitability to continue the supply or to even exist.
It somehow seems at odds to the statement below that the primary companies can’t keep up with demand.
The overall situation is purely Darwinian. The fittest survive and the unfit die out
Keep tearing down those coal and gas power plants and removing dams to save the planet.
...and eventually you will be forced to acknowledge your stupidity and now must face the consequences of the people and science you have scorned.
I might add those consequences are life threatening. One can only imagine the amount of forgiveness required to withhold the requisite punishment for those involved in the death of reality.
Oh No it’s just like the Carbon Credit market ,LOL
Another way to say, “The price we have to charge in order to cover our expenses is too high to justify continuing to operate.”
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