The move into Renewable Power is not a linear move but an exponential one where GE's market and profit is destroyed in a "Black Swan" type of change not a gradual one. GE's profit model is one where they focus on producing products at high single digit profits and then offer services at mid double digit profits. However, the Renewable Power market for the most part reduces not only the product cost but the service cost as well as the need for utilities to pay for ongoing consumption of an energy source.
What utility will decide to pick a traditional energy source if the alternative is a lower cost product, reduced need for services and no cost for the energy consumed (wind and solar)?
GE's only hope is that battery storage and peak load reduce the adoption of renewable energy sources; however, at the right cost point renewable energy can have excess capacity than peak demand and the cost will still be lower.
See the below reference from Forbes Magazine.
https://www.forbes.com/sites/rrapier/2018/05/06/renewable-sources-account-for-most-new-u-s-power-capacity/#4c07d9715971
May 6, 2018, 06:00pm
Renewable Sources Account For Most New U.S. Power Capacity
The history of power production through the early part of the 21st century was very much a tale of nonrenewable energy resources. Power was produced primarily by coal, natural gas, and nuclear energy at large power plants at central locations and distributed to customers via the electrical grid.
But a revolution is underway in the world's power markets.
The Rise of Renewables
The world's energy mix has evolved substantially over the past 20 years. Since 1997, global cumulative installed solar photovoltaic (PV) and wind power have climbed from less than 8 GW to nearly 800 GW, according to the BP Statistical Review of World Energy. According to the International Energy Agency (IEA), renewables were responsible for almost 165 GW of new global power capacity in 2016—nearly two-thirds of the global total.
The U.S. has been a leader in this transition. According to the Federal Energy Regulatory Commission's (FERC) "Energy Infrastructure Update" (EIU), renewable power sources accounted for half (49.9%) of the 24.6 gigawatts (GW) of new U.S. electrical generating capacity placed into service in 2017. Nearly all of the rest, 48.7%, was new natural gas capacity.
At the end of 2017, all renewables (including hydropower) accounted for more 20% of the nation's installed generating capacity -- up from 15.4% in 2012. Renewables accounted for 17.6% of total electrical generation in 2017, compared to 15.3% in 2016. The discrepancy between the 20% installed capacity and 17.6% of generation is attributable to the intermittency of renewable sources.
The Revolution Accelerates
But the first quarter of this year resulted in almost exclusively new renewable capacity. FERC's most recent EIU showed that in the first three months of this year, renewables comprised nearly 95% of new power-generating capacity.
Wind and solar were responsible for nearly all the new capacity, with new wind capacity slightly ahead of solar.
FERC expects these trends to continue for the foreseeable future. The non-profit SUN DAY Campaign analyzed FERC data and estimated that "net additions to generating capacity by utility-scale wind and solar in the U.S. could total 116 GW by December 2020 — effectively doubling their current installed capacity of 115.5 GW."
The recent past and foreseeable future in the power industry are all about this shift in the direction of renewable energy sources.