The "problem" with renewable energy

I'm currently reading "Managing Without Growth: Slower by Design, Not Disaster" by Peter A. Victor of York University. It helped me realize what the real "problem" is regarding renewable energy, from the perspective of the energy industry.

The problem with moving from a fossil-fuel based economy to a renewable resource based economy is not due to the level of investment required - it is due to the fact that it will be much more difficult to maintain the high level of profitability we currently see in the energy industry. Installing solar or wind-power generation does not prevent other people from installing it, unlike with the oil sands for example - either you have the rights to some of the limited amount of tar or you don't. When you do, you prevent other people from having those rights.

Not only is renewable energy, well, renewable, which means there is an endless supply, but there are relatively low barriers to entry. It's difficult to keep your competitors from opening up a windfarm in another locale. Also we will move from a centralized system to a more distributed energy system (with many people perhaps creating and consuming their own energy, or even feeding back into the grid). Energy companies obviously have vested interests in trying to prevent this.