Texas achieved a record amount of renewable energy production on Wednesday, peaking at just over 31,468 megawatts of combined solar and wind energy. The contribution of these resources to the state’s electric supply dramatically lowers the price of power for Texas consumers.
“Texas needs every available megawatt to meet surging demand during prolonged high temperatures this summer, and low-cost renewable energy has proven critical,” said Judd Messer, Texas Vice President of Advanced Power Alliance.
This new record is more megawatts than the maximum output of all energy in forty-two states, according to the latest data from the Energy Information Administration.
“Solar energy is ensuring sufficient capacity during day-time peak, providing about two times as much energy as the same time last year, while wind energy plays a significant and complementary role as the sun sets.”
This significant performance comes shortly after the 88th Texas Legislative Session where some lawmakers attempted to halt renewable energy completely. Fortunately, wisdom and prudence prevailed and lawmakers chose to keep renewable energy delivering for the state’s diverse mix of energy consumers, including commercial and industrial customers who rely on affordable power to remain globally competitive.
“A diverse mix of energy resources is the only way to ensure our grid achieves both reliability and affordability, so we must encourage policies that allow Texas to continue growing its energy portfolio,” Messer added.
Image Source: GridStatus
Consumers benefit tremendously from the availability of renewable energy. A study completed by the economic and energy consultancy IdeaSmiths, LLC in 2022, and updated in April 2023, showed that the widespread adoption of renewables reduced wholesale electricity costs by about $31.5 billion between 2010 and 2022, saving consumers significantly from what they might otherwise have had to pay. In 2022 alone, due to high fuel prices and growth, renewables reduced ERCOT wholesale electricity market costs by about $11B (~$920M per month).