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Renewable Power in Development Phase, Leading to Producer Slump

The solar and wind-power equipment business is in a development phase that, like the car industry of the 1900s, is leading to a slump in numbers of manufacturers before it can mature, according to Bloomberg New Energy Finance.

“In 1903, the United States had over 500 car companies, most of which quickly fell by the wayside even as the automobile sector grew into an industrial juggernaut,” Chief Executive Officer Michael Liebreich said in a statement accompanying the release of two reports today based on data compiled by BNEF.