DiamondNuts69 t1_iuh9mor wrote on October 31, 2022 at 9:44 AM

Reply to comment by InterestingHurry1834 in Why aren't people buying energy stocks? by InterestingHurry1834

Other energy sources are not as profitable as oil

augustus331 t1_iuhm4hh wrote on October 31, 2022 at 12:14 PM

I work in the renewable industry and stating that any fossil-fuel is more profitable than solar-PV or wind for that matter is not true.

The cost for renewables has come down from $380/MWh for solar in 2009 to around $40 in 2019, which is steadily dropping due to compound innovation and accelerated adoption.

I can't stress enough to conclude, that oil, gas, coal, lignite, wood, are not more profitable or economically sound (even when disregarding environmental damage, which we shouldn't), and they never again will be more profitable.

DiamondNuts69 t1_iuhofip wrote on October 31, 2022 at 12:36 PM

I work in wind. The company that I work for is -2Billion in profit in Q3.

augustus331 t1_iuhq124 wrote on October 31, 2022 at 12:51 PM

Alright, so how does that work, then?

Cost per MWh/KWh should be lower than hydrocarbon alternatives.

The losses are from CAPEX and scale-ups, or is the manner of production infeasible? If you can share, you don't have to name names ofc.