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General Electric Poised To Benefit From Wind Energy Growth Potential
Summary
General Electric is one of the world’s largest wind turbine manufacturers and is the leading manufacturer in the United States.
With the extension of the Production Tax Credit (PTC), prospects for onshore wind energy in the United States is positive.
Offshore energy has gained traction globally, yet this is an untapped opportunity in the United States - General Electric’s main market.
With the Alstom acquisition, GE acquired Alstom’s Haliade offshore wind turbines which is the turbine of choice for Deepwater Wind’s Block Island wind project - America’s first offshore wind farm.
A report by GlobalData anticipates offshore wind to become one of the largest renewable power segments by 2020.
Please take note this is only one aspect in weighing the attractiveness or non-attractiveness of General Electric (NYSE:GE) as an investment and should not be used independent of other factors.
General Electric's renewable energy business is comprised of three main segments: onshore wind, offshore wind and hydro. Much of the segment's revenues are currently derived from onshore wind.
General Electric is one of the world's largest wind turbine manufacturers and is the leading manufacturer in the United States.
Source: Bloomberg New Energy Finance Report
Renewable energy was the biggest source of new power added to U.S. electricity grids in 2015; that was the second straight year that renewable energy eclipsed fossil fuels.
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