GE sees more short-term wind, solar departures but long-term demand

E&E • Posted: Wednesday, February 1, 2012

General Electric Co. executives expect more companies to exit the wind and solar power business, but they still see growing long-term demand.

Because of economic stress in both the United States and Europe, there will be little financial help for energy companies after government incentives expire.

Despite that, GE expects long-term demand for wind equipment to keep growing because technological improvements have made the industry less reliant on government support.

The company manufactures thin-film solar panels and systems and is one of the biggest players in the wind turbine manufacturing business.

“There’s going to be a lot of casualties in the wind and solar businesses,” said John Krenicki, president and CEO of GE Energy. “There already are in solar.”

Solyndra, a solar panel maker, collapsed last year in bankruptcy and owes the U.S. government more than $500 million (Tom Bergin, Reuters, Jan. 31)