What's Going Wrong With the Renewable Energy Industry This Year

Following a disappointing 2021, investors in wind power were hoping for a better 2022. Once again, the leading players in the West, namely General Electric's (NYSE: GE) renewable energy business, Vestas (OTC: VWDRY), and Siemens Gamesa (OTC: GCTAY), will miss their initial earnings estimates this year. First, shortages and supply chain issues have bedeviled the global economy over the last year, and those have in turn contributed to higher prices for raw materials.