According to a Reuters report citing unnamed sources familiar with the situation, GE’s onshore wind power business has been troubled by rising raw materials costs, weakening demand, and supply chain snags.
The weaker demand came in response to the expiry of renewable power tax credits that made wind and solar cheaper than most alternatives.
Can't stay alive without those sweet subsidies. Go figure.
In a few years the landscape is going to be disfigured by thousands upon thousands of abandoned, rusting, nonworking windmills.
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