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Siemens Energy Stock Plummets on Wind Power Worries. What GE ... - Barron's

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Siemens Energy Stock Plummets on Wind Power Worries. What GE Investors Need to Know. - Barrons

Siemens Energy Stock Plummets on Wind Power Worries. What GE Investors Need to Know.

Oct 26, 2023, 2:07 pm EDT

Making wind-power-generation equipment isn’t a great business these days. Just look at Siemens Energy: Concerns about its business wiped out more than $3 billion in market value Thursday in overseas trading.

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Related Knowledge Center: ENERGY BASICS: renewables

State of Play

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.

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