New Energy Has Saved Texas $28BIL

Texas Solar and Wind Resources Saved Consumers Nearly $28 Billion Over 12 Years: Report

Elizabeth McCarthy, October 25, 2022 (Utility Dive)

“Solar and wind energy reduced wholesale energy costs in Texas by $7.4 billion in the first eight months of this year, creating average monthly savings of $925 million…[and according to IdeaSmiths, solar and wind resources have saved Texas residents nearly $28 billion over the past 12 years…With natural gas and coal prices at 10-year highs, Texas residences and businesses are on track to save an estimated $11 billion this year…[Renewables have] also has reduced air pollution, including carbon dioxide, nitrogen oxides and sulfur oxide emissions, and curbed the use of limited water supplies…

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…Texas leads the U.S. in wind installations, with 30.46 GW, and is second in solar energy, with 8.6 GW…[Renewables have lowered wholesale electricity market prices] by offsetting more expensive power plants…[and consumer savings have] been larger this year because of increased wind and solar generation as well as natural gas and coal prices that were much higher than they were in earlier years… [The very hot Texas summer also drove up demand,] increasing the value of grid-connected renewables…

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…[Renewable-generated electricity displaced fossil fuels which] avoided 416,000 tons of SO2, 318,000 tons of NOx, and 558 million tons of CO2 emissions since 2010…[The avoided emissions led to] fewer hospitalizations of patients suffering respiratory impacts…[That has saved Texans and estimated $10.2 billion to $76.4 billion] in healthcare and other environmentally related costs…[Avoided consumption of water used in fossil fuel plants led to estimated savings] between $0.7 billion and $1.7 billion.” click here for more

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