GE Renewable Energy posts heavy loss but expects 'significantly better' profits - Windpower Monthly
GE Renewable Energy posts heavy loss but expects ‘significantly better’ profits | Windpower Monthly
GE Renewable Energy posts heavy loss but expects ‘significantly better’ profits
GE Renewable Energy posted a $359 million loss in the second quarter of 2023, but improved its revenue forecast for the year and secured a record total of orders.
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Related Knowledge Center: ENERGY BASICS: renewables
Renewable energy sources — once the fuel of the future, then practical in specific, narrow applications — are increasingly economic mainstream sources of power generation. Hydropower was long the mainstay of U.S. renewable electricity generation, although wind power surpassed hydro for the first time in 2019, and solar continues its rapid growth. The continued growth of wind and solar, with their fluctuations, is tied in part to improvements in storage technology: batteries.