Posted on 10/09/2023 7:08:36 AM PDT by CFW
Renewable stocks are taking an outsized beating among other stocks in the utility sector, which was down more than 10% last quarter.
Investors may be betting that going green will take longer and require more capital in a higher-for-longer interest rate environment.
“As utilities struggle with converting to more green energy, their operating margins are getting squeezed until they can get their utility rates increased,” Louis Navellier, founder of Navellier, a money management firm, told Yahoo Finance.
Higher interest rates are impacting the renewable sector because clean energy projects are capital intensive.
[snip]
“There is an exodus from ESG products that are suffering from outflows,” said Navellier.
The Global Clean Energy ETF (ICLN) is down about 30% year to date. The solar and wind energy benchmarks Invesco Solar ETF (TAN) and First Trust Global Wind Energy ETF (FAN) are down 35% and 32% during the same period, respectively.
The selling in renewables intensified after NextEra Energy Partners (NEP), a subsidiary of NextEra Energy (NEE) focused on renewables, cut its growth target by half to 6% through at least 2026.
(Excerpt) Read more at finance.yahoo.com ...
“Police found 115 bodies at Colorado ‘green’ funeral home while investigating putrid smells”
Yeah-man...This must be what celebrities feel like!
That’s the way Big Hippy Green was designed. Start out small and cheap and explode into billions of green leaves for the tree and penguin huggers.
The big players have milked the green energy scam for all the cream, now they’re headed for the hills.
“Green Energy” is for people who cannot do math.
“Who raised the prices? Answer: No one.”
Actually the fed did.
“renewable” energy is very capital intensive which means when the cost of capital (interest rates) go up, it’s costs shoot up as well.
And given that interest rates have tripled that is a huge hit.
“Notice how dicey things are about to get around the Persian Gulf? That black liquid energy could get expensive enough to make green energy look pretty good if the Straight of Hormuz got “NordStreamed”.”
I’m sure the environazis would welcome that. More reasons to go with renewables.
And actually when reality sets in, the real winner in this may be nuclear and probably coal as well. Germany is restarting one of its coal power plants for the coming winter.
The author just is not capable of telling the truth. “Green energy” will never power a large industrial nation. The price is too high, reliability is too low, capacity factor is too low, and there simply is no affordable energy storage. It will remain at the fringes in the energy mix forever.
If they want a reliable, large-scale power supply and are dead-set against coal, all that is left is nuclear.
I have to laugh at the author for saying “green energy” is capital intensive. He obviously does not know much about energy production and delivery. Electric power has ALWAYS been an extremely capital-intensive industry requiring 30 year bonds. (it might be the highest capital intensive industry - power or mining are close together). So there is no change there.
If he is saying that “green energy” is even more capital-intensive than coal and nuclear, then that exposes the lie that “green energy” is economical and cost competitive (even with zero fuel cost).
I’m surprised it has taken investors so long to figure out this is a dead-end or, at best, a niche player in the energy market that might make 10% to 15% of our power. Without large storage, you will always need 85% to 90% of your power from conventional, “dispatchable,” power sources.
I just watched a Biden admin campaign ad claiming they’re “doing such much more to advance renewables, only then will prices come down”.
Of course the exact opposite is true.
LOL! Do they hide the Diesel engine?
No, they tried to hide them...behind a gas station!
Now that’s funny.
Nice thanks for the clarification,
They would be so funny if they were not so dangerous
Like decraprio flying thousands of miles in his private jet to accept the “ I care more about the world than you do” award
Read an interesting story of the movie he made where he gets attacked by a bear, you will have to rescue me on that one too, and what a huge, enormous, earth killing carbon footprint it had. Filmed all over the world, thousands of people…, but it’s cool he “cares”
Thaaaannnks
Last winter during a power outage I got a picture in my town in NH of a Tesla being powered by a backup gasoline generator.
And they have no clue the hypocrisy of this act
“Thaaaaannnkkksss”
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