By Anna Hirtenstein: 3 November 2016
When executives from some of the world’s biggest oil companies question the ability of solar energy to make money in a roomful of renewables investors, awkwardness ensues.
That’s what happened Thursday at the Energy for Tomorrow conference in Paris, where the chief executive officers of Royal Dutch Shell Plc and Total SA said solar power isn’t profitable.
“Growth of renewables has been remarkable but capacity of industry to make money in that segment has been remarkably absent,’’ Shell CEO Ben van Beurden said during a panel discussion. “The 10 largest solar companies collectively never paid a cent of dividends.’’