April 9, 2019 - Austin, TX
SEIA predicts an additional 4,671 MW of new solar installations over next 5 years in Texas, ranking the state second in the USA for growth after California. In the last 3-months of 2017, Texas added 227 megawatts of solar capacity. To put that into perspective, Texas’ peak demand is was around 71 GW in 2016. Deployment of energy storage, too is set to grow rapidly in the state US-wide, there was an increase of 46% in the third quarter of 2017 and prices for lithium-ion in particular have dropped by 24% since 2016.
On energy storage, Texas also has the potential to be a hotbed of deals in 2018 and 2019. Austin Energy, a publicly-owned electric utility in Texas, is delivering megawatt-scale storage systems as part of the US Department of Energy’s Sustainable and Holistic Integration of Energy Storage and Solar PV (SHINES) project in partnership with STEM and German company Younicos. STEM recently raised $80 million in funding, in part from the Ontario Teachers’ Pension Plan. Toshiba and NRG are also working to deliver a 2MW battery at NRG Yield’s Elbow Creek Wind Farm in Howard County, Texas. The project is part-funded Texas’ environment agency, Texas Commission on Environmental Quality (TCEQ).
1.9 GW of coal and older nuclear plants in the State are due to be mothballed. Texas produces more renewable energy in terms of quantity than any other US state – and some countries – with much of this being generated by wind.