As per an analysis by ACP and the latest available data, the clean energy industry in Texas achieved remarkable contributions to the electric grid, effectively powering and cooling American homes at affordable costs during the recent heatwave.
From June 19 to June 30, renewable resources consistently supplied an average of 30% of the grid’s power requirements during the highest 10% of demand hours. This period even saw the Electric Reliability Council of Texas (ERCOT) experience its highest-ever demand. The generation of renewable energy throughout the heatwave played a critical role in sustaining the grid and preventing electricity prices from surging.
Texas ranks number one nationwide when it comes to installed wind energy capacity and ranks second in solar and storage. Wind energy alone accounts for 22% of the state’s total electricity production. This dependable and domestically sourced energy source not only reduces water consumption and eliminates emissions but also drives economic growth.
The clean power sector has attracted a substantial investment of over $83.2 billion to Texas, leading to more than $297 million in state and local tax revenue and annual land lease payments of $301 million, benefitting the people of Texas.
“Our industry’s investment in solar, wind and storage in ERCOT has paid off for Texans during this heatwave,” said Jason Grumet, ACP Chief Executive Officer. “Clean power is keeping the lights on at an affordable cost, cooling homes and businesses, and keeping people safe. The performance of renewable resources during this extreme weather event demonstrate the importance of resource diversity to grid resilience and economic security.”
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