Capitalism at a Crossroads: Profit & Public Purpose in Clean Energy - CleanTechnica

The article discusses Brett Christophers’ analysis of the challenges facing the clean energy transition, as presented in his book. Despite renewable energy often being cheaper to produce than fossil fuels, investment levels remain insufficient to meet climate goals. Christophers attributes this to the profit-driven nature of private capital, which finds renewables less attractive due to their low marginal costs and resulting thin profit margins. In contrast, fossil fuels maintain profitability through controlled scarcity and market structures favoring incumbents. Consequently, relying solely on private investment will not accelerate the transition fast enough, and the state must play a much larger role by owning infrastructure or guaranteeing returns through subsidies and long-term contracts. Christophers argues that electricity should be treated as a public good, better managed through planned, coordinated investment rather than volatile spot markets. He calls for a significant expansion of public ownership and leadership in renewable energy, effectively socializing electrical generation to bypass profit motives that hinder progress. However, critics note that the situation is more nuanced: renewable profitability varies by