Energy & Capital
It’s important to know when to cut your losses, no matter how big your investments are.
Of course, if they’re worth several billion dollars, the issue becomes a little more pressing.
This is the kind of problem energy industries all over the world must consider when looking into valuable but still-developing renewable technologies.
On one hand, it’s a no-brainer: more renewables equals less emissions, which is a goal countries everywhere are currently working towards.
The catch is that a single solar farm or batch of wind turbines isn’t going to cut it. Anything less than a massive investment in either, or both, is just a drop in the bucket and will have little or no effect on the outcome.
And, let’s be real here, there’s no money in something that’s not living up to its potential like that.
I’ve heard every argument about renewable energy from, “We have the technology, why isn’t everyone using it?” to, “Panels and turbines are a blight on our Earth!”
My response to both extremes: the tech isn’t up to snuff yet, but it’s coming, and fast.
Last week, we got word that Tesla’s fancy new rooftop solar panels are a go. Though the industry at large is going to need a lot more upgrading than that, solar capacity is growing at a clip worldwide.
Wind, less sensational but no less important, has been quietly following suit.
In fact, wind capacity has been growing faster than solar for years now!
