The typical Texas residential consumer is expected to
potentially save $160 to $355 annually in electricity bills, once new transmission lines
are completed to deliver wind power throughout the state, according to a new study.
In addition, the combined investment in new wind turbines and these transmission lines Competitive
Renewable Energy Zone (CREZ) transmission lines
will create $30 billion in economic gains, create thousands of wind jobs and bring in almost $2
billion in additional state and local taxes.
Also, Texas’ CREZ investment is expected to
help the state annually conserve approximately 17 billion gallons of water, reduce
carbon dioxide emissions by as much as 16% and reduce nitrogen oxide
emissions by up to 13%.
The CREZ transmission
investment is expected to double the amount of wind power available to
Texas customers by 2013.
Because wind turbines do not pay for fuel, their cost of operation does not increase the
more they are used. So, as more wind power becomes available on the market, it has a
greater influence on wholesale market prices. The net result is a lower overall cost of
electricity. This effect already
has been seen in the West Texas wholesale market for electricity.
“To put these numbers into context, the economic gains from CREZ and wind power
translates into almost a half to 1 percent increase in our state’s economy, which is equal
to the impact of the air transportation (low range) or the computer and electronic sector
(high range) of our economy today,” said Dr. Ray Perryman, president of The Perryman
Group, which published the study.
National Institute for Renewable Energy
A new Texas-based public-private collaboration aims to solve key scientific and
technology challenges facing the wind power industry.
The National Institute for Renewable Energy (NIRE) is an independent venture founded by the Texas Tech University System, the Innovate Texas Foundation and The Wind Alliance.
It will operate a for-profit business component that will design, construct and operate research wind farms, selling the power generated in the commercial marketplace to fund a non-profit research center. NIRE also will provide services to industry partners and offer an industry consortium, which will be managed by The Wind Alliance.
The National Wind Resource Center, established by Texas Tech University, will serve as the research center for the initiative with support from many of the nation’s leading research universities, each utilizing its unique areas of expertise within the renewable energy sector.
Texas Hits Renewable Energy Goals Early
Texas achieved its goal of 10,000 megawatts (MW) of renewable energy 15 years ahead of schedule, as noted by the website TriplePundit.
99% of that power is provided by the state’s successful wind power industry–particularly in the western part of the state. And the only thing holding back further growth in wind power is the lack of transmission to population centers in the eastern part of the state.
The state’s renewable energy program–under the Electric Reliability Council of Texas (ERCOT)–was signed into law by then-Governor George W. Bush in 1999.
Under the program, each megawatt-hour of renewable power earns a renewable energy credit (a REC) which can be sold separately. But TriplePundit reports that the rapid growth of Texas wind power has resulted in a voluntary market for RECs that is larger than the mandated market–which may be scrapped in the future.
According to a report by the Center for Energy Economics at University of Texas, Austin, developers are considering adding an additional 50,000 MW of wind power in the state.
That report "Lessons Learned from Renewable Energy Credit (REC) Trading in Texas," is available at the link below.
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