- Wind and solar companies have reported massive profit declines over the last year as clean energy prices have risen and new installations have been delayed thanks to supply chain shortfalls, market uncertainty and the Ukraine crisis.
- “One of the problems with this industry as a whole is that, since at its very foundation it is based on government subsidies and government mandates, its market value is never truly known,” said Daniel Turner, the executive director of Power the Future.
- “90% to 95% of the supply chain does not exist,” RJ Scaringe, CEO of electric vehicle maker Rivian, told reporters in April, according to The Wall Street Journal.
“The whole thing has been sort of a government created industry, from the get go,” Dan Kish, a senior fellow at the Institute for Energy Research, told the DCNF in an interview.
The renewable energy industry suffered significant setbacks in 2021 as supply chain issues and inflation wreaked havoc on a sector dependent on subsidies.