AUSTIN, TEXAS – Renewable energy and battery energy storage projects continue to generate tens of billions of dollars in tax revenue and landowner payments while contributing significant and essential power generation resources to the electric grid, according to findings showing 2023 growth released by the Advanced Power Alliance (APA), Conservative Texans for Energy Innovation (CTEI), and the Texas Association of Business (TAB).
According to new evaluations including 2023 investments, existing and planned utility-scale wind, solar and energy storage projects in Texas, over the course of their lifetimes, are estimated to generate $16.7 billion in local tax revenue, a 16% increase from 2022, and are expected to pay local landowners nearly $19.3 billion, a 15% increase from 2022.
“Renewable energy continues to grow its footprint, and all Texans are benefitting from the tremendous contributions these projects bring to our communities,” said Judd Messer, Texas Vice President of the Advanced Power Alliance.
Data also suggests existing and expected projects can generate significant megawatts of additional power available for the grid.
“At a time when grid reliability is the number one priority of our lawmakers and regulators, it’s critical that policies and regulations do not deter the prudent expansion of renewable energy resources that provide affordable power for Texas consumers and increased revenue for our local communities and landowners,” said Messer.
The interactive map shows project size, tax, and landowner payment data per legislative district and can be accessed at www.txrenewables.net.
The above data includes 2023 figures updated from 2022 figures released in a report, “The Economic Impact of Renewable Energy and Energy Storage in Rural Texas,” authored by Dr. Joshua Rhodes, Chief Technology Officer of Idea Smiths LLC and a Research Scientist at The University of Texas at Austin, issued last January.