Wind turbine maker GE Renewable Energy records billion-dollar loss for 2023 – but flags ‘sizeable improvement’
Wind turbine maker GE Renewable Energy records billion-dollar loss for 2023 - but flags ‘sizeable improvement’ | Windpower Monthly
Wind turbine maker GE Renewable Energy records billion-dollar loss for 2023 – but flags ‘sizeable improvement’
GE Renewable Energy recorded a $1.4 billion loss in 2023 – a deficit significantly lower than the previous year prompting the company to flag the result as a “sizeable improvement”.
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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.