Quote:
Originally Posted by CoachKandSportsguy
Bloomberg:
Sunrun Takes $1.2 Billion Charge in Latest Blow to Solar
The promise of the renewable energy industry, underscored by Sunrun Inc.’s acquisition of Vivint Solar three years ago, had investors rushing to jump in. Now, solar stocks are facing a major sell-off, spurring Sunrun to take a $1.2 billion charge to write down the value of its purchase.
The move at the biggest US rooftop solar company comes on the heels of a string of bad news across the sector. SunPower Corp. tumbled 5.6% Wednesday after cutting its full-year guidance due to weaker demand for its rooftop solar systems. SolarEdge Technologies Inc., which makes inverters that allow homes to use solar power, saw its stock plunge more than 20% in late trading Wednesday.
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Alternative/renewable energy alternatives, simply don't work financially. EV cars are a disaster, no one wants one. Wind farms have just about given up the ghost. Rooftop solar is a non-started in most of the country. It it wasn't for government mandates and/or incentives, they'd be no one even willing to try these supposed alternatives.
Perhaps we should consider tapping the fossil fuels buried under the USA, that government has prevented from being harvested? I know it's a temporary solution, we probably only have sufficient fossil fuels to support the current rate of usage, for a 100 or so years.