A detailed examination of the Texas wholesale electricity market showed wind and solar power generation saved the state approximately $11 billion in 2022. The report, led by Dr. Joshua Rhodes and produced by Ideasmiths, projects that expanding wind and solar capacity could save Texans between $6.1 billion and $15.2 billion per year. This figure marks a nearly 300% increase from previous years. From 2010 to the end of 2022, wind and solar generation produced $31.5 billion in wholesale electricity savings, benefiting all Texas households.
This value is only expected to grow as wind and solar capacity fill the state’s power grid queue.
From 2018 to 2022, these savings led to an average annual reduction of over $200 in electricity costs for the average Texas household. As wind and solar installation increases, this figure is expected to rise.
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pvmagazine.com
May 12, 2023
John Fitzgerald Weaver