GE (GE) is investing in smaller wind turbines for personal use, because it sees a substantial ramp up in the residential wind turbine market.
Steve Fludder, VP of Ecomagination plans on exploiting GE’s dominance as the world’s largest producer of small wind generators in the coming years. He just wrapped a primer on GE’s green playbook at Goldman Sachs alternative energy conference, which we listened to via webcast.
Wind power is a huge part of GE’s business says Fludder. “We made wind energy real,” before GE came into the market a few years ago, “there was no scale…it was a hobby.” Now, GE’s wind business is “handsomely profitable” and it can stand on its own two feet, unlike solar, which he says is going to take time to come down the cost curve.
The biggest problem with all renewables is scale in Fludders opinion. They need to get to a scale where the cost can come down, but that’s going to take assistance. He doesn’t want to use the word subsidy, but that’s what it’s going to take from governments around the world so renewable energy can achieve scale.
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