Guest Post by Russian Market
Clean-energy stocks plummet as renewable energy projects prove to be too expensive, threatening America’s environmental aspirations Russian Market is a project by a financial blogger, Swiss journalist and political commentator based in Zurich. Follow him on X @runews© RT / RT
The once-glorified clean-energy stocks are now facing their darkest days, plunging the industry into a financial abyss that threatens America’s ambitious environmental aspirations. The much-touted green revolution is looking more like a red alert as the sector hemorrhages tens of billions in market value.
Sure, we’re told that hundreds of billions is still pouring into renewable energy projects, despite the fact that the stock market seems to have declared a resounding “no thanks” to these ventures. The iShares Global Clean Energy ETF (Exchange-Traded Fund), the poster child for the industry, has nosedived by over 30% this year and a whopping 50% since the dawn of 2021.
Not to be outdone, specific sectors are getting their fair share of punishment. The Invesco Solar ETF is down over 40% in 2023, while the First Trust Global Wind Energy ETF is witnessing losses of about 20% this year and a grim 40% since January 2021. It seems the wind has been knocked out of their sails.
Blame it on rising interest rates, the industry’s newfound nemesis. These higher rates have not only increased costs but also put a damper on consumer enthusiasm, leading to a nosedive in stock valuations for companies that once promised a green utopia but are now struggling to turn a profit.
Solar companies such as SolarEdge and Enphase Energy are feeling the burn as demand for their products dwindles. Meanwhile, wind energy giant Orsted is singing the blues, with shares plummeting after revealing potential multibillion-dollar write-downs on its offshore wind projects in the US.
In Germany, after the Nord Stream sabotage, because, you know, energy geopolitics and straightforward plans always go hand in hand, a whopping 77% of skeptics are shaking their heads, expressing disbelief that the nation will magically conjure up 80% of electricity from renewables by 2030. I guess turning skepticism into solar power hasn’t quite hit the mainstream yet.
Switzerland, the poster child for phasing out nuclear power, is now flexing its green muscles by entertaining the idea of keeping nuclear plants running longer, because who needs a clear exit strategy when you can just extend the atomic party until 2040?
Biden’s green dreams are melting faster than his favorite ice cream in the sun
In the US, the demise of two New Jersey wind projects is just the tip of the iceberg, with inflation, sky-high interest rates, and a supply chain in shambles throwing a wrench into the gears of Joe’s climate ambitions. Despite a whopping $369 billion in federal aid from his climate law, clean energy projects are dropping like flies. Even the postponement of a Kentucky EV battery plant by Ford and General Motors trimming their EV plans couldn’t escape the economic tempest.
It seems the only thing rising faster than hopes for a clean energy revolution is the cost. But hey, who needs affordable, reliable energy when we’ve got grand climate goals, right? Biden’s green plans are becoming a chilling reality check, and it’s not just the polar ice caps feeling the heat.
It’s ironic, isn’t it? Not too long ago, clean energy was hailed as the savior of our planet, but now it seems the green agenda is drowning in a sea of red ink. The S&P Global Energy index, once a shining star, has seen its value halved since 2020 – a spectacular fall from grace.
Fast forward to the present, and we witness the mighty green stocks taking a severe beating. Despite the EU and US governments offering billions in tax credits and subsidies to support the so-called green transition from Russian oil and gas, investors are losing confidence faster than you can say “renewable.”
The S&P Global Clean Energy Index has experienced a gut-wrenching 30% freefall in 2023, with the biggest quarterly outflow of $1.4 billion. The once-booming sector now holds a 23% decline in total assets under management, a far cry from its heyday just a few months ago.
Blame it on the current economic climate, they say – high interest rates, soaring costs, and supply chain woes are the villains of this melodrama. And let’s not forget China, the puppet master of the solar supply chain, flooding the market with cheap alternatives, undermining the EU’s dreams of a local green market.
As utility stocks struggle to convert to green energy, the sector’s operating margins are squeezed.
The final nail in the coffin? NextEra Energy Partners cutting its growth target by half, sending shockwaves through the renewable industry. I dismiss the sell-off as overblown, but the damage is done, and confidence in renewables has hit rock bottom.
So, what’s the moral of this green tale? It turns out, going green is not just about saving the planet; it’s an expensive affair. As the renewable energy stocks hit rock bottom, analysts are left wondering: is it time to buy, or is the green dream truly over?
In a deliciously ironic plot twist, Greta Thunberg is currently sizzling in the crucible of criticism for daring to support Gaza. It seems our climate crusader is now facing a cancel-culture bonanza, much like the tweet she swiftly deleted – you know, the one prophesying Armageddon and cautioning that climate change might just “wipe out humanity” unless we magically halt fossil fuel usage by the grandiose deadline of 2023. The irony is thicker than Beijing’s smog, folks.
Seems like even the green warriors can’t escape the unforgiving reality of the market.
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Retarded crybaby gonna bite your dick off if you run a IC engine !
Seriously. What is it with you and dicks? You sound like a black fag.
…”not that there’s anything wrong with that”. LOL!
H O W D A R E Y O U
In 2011 I researched putting in solar or wind, so I installed a 5kw system doing all the work myself it cost $22,000, it generated about 30% of what I needed to supply my whole house needs, I do have to say I was running at about 65% efficiency, due to location.
A wind generator would have cost me about $90,000 to supply my needs, if the wind blew enough, since I was in the highest wind area in my county.
Either way it is a complete failure economically, the cost are anywhere from 3-20 times more then the way we make electric now.
What bothered me the most is I talked to a engineer in the wind industry, and another engineer involved in putting in charging stations in the past year, I told them both it is a scam, they said I know, as always they cant afford credibility, the love of money gets in there way.
There is not 1 in a million that can afford credibility, this is why america is doomed!
P.S
By the way the one engineer working on putting in charging stations, was at the beach in his towable trailer, to me he is no different then the family living next to the admistrator at the beach on disabilty and welfare, most people are losers living like winners.
Welcome to reality. There’s the world as it’s presented to you, then there’s the world as it really is. They rarely intersect.
I would point out that what was true in 2011 is now very different in 2023. Many factors have changed.
To begin with as best I can estimate you paid something over $4 per watt for your solar panels, today you can buy panels around $1 per watt, that drastically changes the equation. Here’s an example:
https://unboundsolar.com/18952391/solis-36-panel-ja-solar-grid-tie
Another critical factor is the rate one is paying per kilowatt of power. At one time a friend in Texas told me some places in Texas the cost of electricity was in the low teens per kilowatt, IIRC it was somewhere around $o.11 to $0.15 per kilowatt. (would not pay to put in solar) Now compare that to the cost in Hawaii of $0.45 per kilowatt or even what I’m paying here in Northern California of $0.39 per kilowatt off peak and $0.43 per kilowatt peak and you can see that drastically alters the equations.
I just had a conversation with a lady friend that lives in France and she was complaining that from a few years back to today her electric rate has gone up 70%. From what I was able to determine the rates in France went from around $0.12 to $0.21 per kilowatt.
In addition to many other costs she complained that food prices have gone up drastically. This person lives on a fixed gov. pension and up until a year and a half ago her pension covered all her living expenses but today, she claims she’s short a little over 300 EU every month. But I digress.
And then there are other factors that can vary from person to person. As an example, compare the differences between me and my sister and brother-in-law. I’m fully capable of doing the entire installation myself, (which I did) saving all the cost of installation. My sister and her husband had to pay for the complete system installation. And then there is the money issue, the opportunity costs. For my sister they were going to have to borrow the money at some high interest rate, for me I had the money sitting in the bank drawing nothing. Totally different situations.
For me the decision was a no brainer, I bought all the equipment and did the installation myself including complete battery backup. My system is larger than my sisters and I paid less than they did. Like I said the equation is different for everyone.
Also I should add, the rate structure (in California) has recently changed again from the time I did my install, the change is for the worse and may not pay to do solar now. (my rate structure is grandfathered in so I’m OK for now) Again, this is California, in your area the numbers my still work to make solar worth doing.
Of course it depends where you live south or north, also back in 2011 I paid $5000 just for the panels, I believe I can get them now for about $2500, also I had a racking sysytem for the yard, not the one that ruins your roof, that at the time was also about $5000, and i was paying .007 cents per kilowatt back then.
I am paying on average about $150 a month now for electric, so about $1800 a year.
So the sysytem you listed would be $16,133 for me with tax, with roof mount, that is a nine year payback.
Also the original investment of $16,133, becomes $22,000 at 3.5% compounded interest over nine years, now I am up to over 12 years payback, just when the inverter needs replaced for $3000 more, and the panels start to deteriorate.. You and I might be able to trouble shoot the inverter, and replace a $2 capicator etc., but you know as well as I do 99.9% of the population cannot.
The sunnyboy Inverter I had went out after two years luckily it had a ten year warranty unlike the one you quoted
I noticed you also quoted the cheapest package, when other of the same wattage are over $20,000, not $16,000.
not that I am arguing with you, just saying, it is at best a wash, if you install it yourself, and yes the prices are way down since 2011, and I agree with all of your points.
all the men in my family say I cant do that, or do they have the money, so it still comes out to costing 3x as much for most people, even with cost reductions since 2011
I gave you a thumbs up, thanks for the thumbs down for telling the truth!
To be clear I wasn’t disagreeing with anything you said, I simply was pointing out that things have changed and that everyone’s situation will be somewhat different.
As an example, last August my system generated 1955.25KWH and I still pulled from the grid another 190KWH for a total consumption of 2145.25KWH which if I didn’t have Solar, calculating at the lower rate of $0.39 per KWH, my bill for the month of Aug would have been $836.65, but with Solar I haven’t paid anything at all for over two years. Like I said, for me it was a no brainer.
wow, I understand your postion, it would have cost me maybe $275 for the same, and if I was in your postion, I would have installed solar also, I am not to far away from administrator in Pa.
You’re paying about $0.13 per KWH?
Like I said the $0.39 is the low rate, the peak rate (time of the day that everyone is using the most electricity) is $0.43 per KWH.
You’re paying about $0.13 per KWH?
I am yes, or i was i just looked it up .16 cents with all fees
If they raise the price of electricity enough, solar might even make sense in Fairbanks.
maybe thats what they are going to do, my rates went up 25% this year
You’re ALL splitting hairs. Your microscopes are on yourselves rather than on those who are CAUSING you to split hairs; the OLIGARCHS. Why not question how much, if any costs that they are incurring? And the fact that YOU are paying for them to GOUGE your bank accounts, while they feed from the over-flowing trough? YOUR trough is empty.
Also, you mentioned “65% efficiency, due to location”, yes, same here, various conditions exist such that the panels do not operate at 100% efficiency, the best that I’ve measured out of mine is 75% of their stated wattage.
Thumbs down wasn’t from me, FWIW.
I understand, no hard feelings brother
a lot of roof mounted panels are not adjustable between winter and summer sun angles
‘refracted’ light leads to less output from the panels, for 100% efficiency the sun must
strike the panels at 90 degrees ie: no refraction
Fraud is the American way.
I installed solar panels and wind generators on large (40 feet and up) sailboats.
With the proper battery system I could boast a workable set up to keep beer cold , steaks frozen and lights on !
Anything more like air conditioning you need to fire up your diesel generator, I installed them too
Knew all along wind and solar work in small systems otherwise you are out of luck in the dark
Reality nothing gives our modern society the bang for the buck like hydrocarbon fuels !
Hydrogen fuel cells are promising if people with their heads up their asses were not in command and control
bingo
How about thorium reactors?
Oops, didn’t see yours. Ya beat me to it. Been harping on thorium salt nukes for years.
Greta makes great faces when she wants to make an impression.
She needs a smile fucked into her.
That’s because Greta is on the high functioning autism or alcohol syndrome damaged before or just after birth
Thorium salt nukes
There is no climate emergency. It is a hoax like Russian Collusion, the “insurrection”, and all the others. America can not be destroyed from the outside. So, they are rotting us away from the inside. There is evidence of that all around us. They are being fairly successful. The effort to reach a green utopia is total BS and is one of the tools being used to destroy us. It has to be stopped.
If White people could have their own neighborhoods and neighborhood schools,they wouldn’t have to commute 1-2 hours to their city job. THAT would save more energy than wind and solar produce.
The pretense on which “Climate Change” ™ billionaires who preach to we SERFS is preposterous. Wind-mills murder millions of unsuspecting birds every day. But who cares about them? They’re not part of the environment, are they?
And the DECIBELS of said wind-mills!!!😳
https://www.goyimtv.tv/v/1007322783/Who-is-Greta-Thunberg-and-who-is-her-mum-MALEna-ernMAN-
https://humansarefree.com/2021/01/scientists-reveal-planet-is-colder-today-than-past-8000-years.html
https://dcdirtylaundry.com/gm-spokesperson-kristin-zimmerman-admits-95-of-clean-energy-to-charge-electric-cars-comes-from-coal/