GE Renewables $2B Loss, Offshore Wind Red Tape, Ping’s Matthew Stead

After laying off 20% of its US onshore wind employees, there was no good news in Q3 reports from GE’s renewables division. Wind executives are worried. Supply chain snags and warranty issues look like problems only BIG investments can fix. What can turn wind around, and how soon? Allen and Joel have some ideas.  In a recent interview, we discussed technology and improvements with Ping Monitor’s CEO, and he offered some good insights.  Visit Pardalote Consulting at https://www.pardaloteconsulting.com Wind Power Lab – https://windpowerlab.com Weather Guard Lightning Tech – www.weatherguardwind.com Ping – ping.services Sign up now for Uptime Tech News, our weekly email update on all things wind technology. This episode is sponsored by Weather Guard Lightning Tech. Learn more about Weather Guard’s StrikeTape Wind Turbine LPS retrofit. Follow the show on Facebook, YouTube, Twitter, Linkedin and visit Weather Guard on the web. And subscribe to Rosemary Barnes’ YouTube channel here. Have a question we can answer on the show? Email us!  Uptime 137 Audio Pod Allen Hall: Joel, we have a really interesting show for everyone this week GE has hit a little bit of roadblock in its renewable business. We’ll talk about the details there of, of what’s next for GE renewables and GE renova. Big losses in the third quarter, how are they gonna recover from that? And then we’ll talk about ACP offshore that happened in Providence, Rhode Island, where we had 2000 people show up and discuss the future of offshore, the United States, and what some of the roadblocks are and what, what the OEMs and operators concerns are. And then we’ll have a special. Matthew Stead, CEO and co-founder of Ping talks us about the growth of their continuous monitoring system. I’m Allen Hall President of Weather Guard Lightning Tech. And I’m here with my good friend from Win Power Lab, Joel Saxum. Rosemary is on a well deserved break, and this is the Uptime Wind Energy podcast. GE had an announcement this week, they’d. Third quarter results and GE as a whole is doing decently fine. The aircraft division is looking like it’s stabilizing and, and picking up some numbers cuz the airlines are flying again. Mm-hmm. Healthcare seems to be doing okay, but the power and renewable business is really in trouble. The renewable part, So power and renewables were actually broken out separately, which is gonna be enveloped by renova. So if you take Renova, take power non-renewable and renewables and look at them separately, their renewable energy part lost about it’s $900 million in the quarter and it’s based on about 40% plummet in sales. Sale and order, Sorry, 40% plummet in orders and about 15% drop in sales. And GEs talking about restructuring that business to save money. And as we’ve heard the onshore business win business for ge, they’re talking about 20% layoffs. It sounds like Those are in process at the moment. They’re trying to save about $500 million annually. But the, the, the numbers are really depressing. If, if you look at what renewables is gonna lose this year, it’s around 2 billion. At least that’s the way GEs projecting it. So ev