Did an average a while back and average PE ratio for just straight electric utilities companies (keep in mind all well over a billion market cap and somewhat small sample size) was 18.24
However, newer technology such as solar all seemed to be way lower, usually only as high as like 5. So I think you're in the ballpark with using 10 on the optimistic side. I don't put much weight on things like that down here in the pinks though. They need to be delivering and attracting new investors.
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