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Posted on Dec 8 2017 in Energy Working Group

The change, it had to come…

The change, it had to come…

a Shifting Energy Market…

trying to navigate the energy future.

By 2024, solar and wind energy technology is expected to attract two-thirds of global investment in power plants and account for as much as 40 percent of total power generation by then, according to the International Energy Agency. As such renewables take hold, natural gas is likely to be pushed from a primary role to a supporting role when the wind does not blow and the sun does not shine.

G.E. has carved out a space in renewable energy, producing wind turbines. But it faces significant price pressure from competitors, particularly in China.

All the while, demand for power is rising more slowly than in the past, owing to the improved efficiencies of appliances and commercial buildings increasingly engineered to save electricity. Power demand growth in China, for instance, has slowed to less than 2 percent a year since 2012 from 8 percent a year from 2000 to 2012.

G.E. Cuts Jobs as It Navigates a Shifting Energy Market