NewEnergyNews: New Energy Has Saved Texas $28BIL/


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    Wednesday, November 16, 2022

    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…

    …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…

    …[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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