Warren Buffett: Solar and Wind Could ‘Erode the Economics of the Incumbent Utility’

Billionaire investor Warren Buffett says that renewable energy and efficiency are pushing utilities beyond a "sloppy" operational model and into a more competitive environment. In his annual letter to Berkshire Hathaway shareholders, Buffett outlined the risks posed by distributed generation to traditional power companies. Berkshire Hathaway, a multinational holding company worth nearly $200 billion, owns 10 energy companies, including three large electric utilities serving territories across 11 Midwestern and Western U.S. states.http://www.greentechmedia.com/articles/read/warren-buffett-warns-about-solar-and-wind