Renewable energy is currently growing at a rate of 15-20% per year (Joules, though dollars can't be that far away), compared to energy as a whole (more like 2%). So it seems like it should be a massively expanding domain for investment.
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Trying to square that with the SV conventional wisdom that cleantech was a bust. It may just be that 2006-2011 was just a phenomenally bad time for a big increase in investing (financial crisis and fracking both happened in the middle).
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I must admit, I also wonder if it's just that SV is the wrong place, much as investing in high-risk software startups is a bad investment idea (though often a social good!) in most cities.
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Replying to @michael_nielsen
Hard to capture the value when manufacturing costs are dropping so fast?
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Replying to @Meaningness
That argument would suggest that companies like TSMC, Intel and NVIDIA shouldn't make much money. But they make boatloads.
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Replying to @michael_nielsen @Meaningness
My guess is that someone really is making a _lot_ of money. Just not sure who.
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Replying to @michael_nielsen @Meaningness
michael_nielsen Retweeted michael_nielsen
This I find really interesting:https://twitter.com/michael_nielsen/status/1207700643273555968 …
michael_nielsen added,
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Replying to @michael_nielsen
This is cool, but, although they are the world’s largest single generator of solar and wind, it seems to be a small part of their business. Their core business is FPL, which is mostly fossil with some nuclear: http://www.investor.nexteraenergy.com/~/media/Files/N/NEE-IR/reports-and-fillings/annual-reports/NextEra%20Energy_Annual_Report_2018.pdf …pic.twitter.com/xPdbVhzUVA
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Replying to @Meaningness @michael_nielsen
(I can’t readily find a breakdown of power sources for the whole consolidated business in their annual report)
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Replying to @Meaningness @michael_nielsen
Solar & wind are growing rapidly, but from an incredibly small base. Which is good or bad depending on how you look at it! NextEra’s stock price seems to be a bet on that being profitable in the future, rather than reflecting current profits from renewables.
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And, they’ve used their stock multiple as currency to buy up existing fossil and nuclear utilities, which is where a lot of the income growth is coming from. Their promises to invest in solar and wind going forward are inspiring, however!
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