New York Times staffers Julie Creswell and Diane Cardwell explore the ramifications of one-time high-flying solar juggernaut SunEdison's demise, and the lessons learned.
Creswell and Cardwell describe a classic case of corporate meteoric rise and fall, complete with an executive with an Icarus complex chasing a fast-growing market embarks on an aggressive strategy fueled by cheap debt. They write:
Yet the collapse raises a bigger question: Can renewable-energy companies be profitable? Can green make green?
The answer, of course, is yes. Just as soon as they cross over a fundamental hurdle: finding a strategy that actually works.
“We haven’t totally figured out exactly what the business models are going to look like, for who wins and who loses,” said Jason Bordoff, director of the Center on Global Energy Policy at Columbia University.