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On a percentage basis the largest gains are expected to come in solar energy, which is anticipated to grow 28 percent.
Despite the Lone Star State’s vast number of wind farms already in operation, Texas now counts more than half of the entire nation’s wind growth currently under construction.
While oil companies such as Exxon Mobil Corp. and Royal Dutch Shell Plc eliminate jobs and curb capital spending to cope with prices that have fallen two-thirds in 18 months, renewables are enjoying a renaissance underpinned by rules designed to curb fossil-fuel emissions damaging the atmosphere.
The head of the oil industry’s top lobbying group says the U.S. is an emerging global energy powerhouse, and can can grow even stronger if the federal government imposes fewer regulations.
Calpine, the owner of the nation’s largest fleet of gas power plants, walks a fine line in supporting the Paris talks and the federal Clean Power Plan to reduce emissions at power plants, while also opposing the five-year extensions of wind and solar tax credits in the federal budget approved Friday by Congress. Hill supports a carbon tax, but in a “level playing field” without tax credits.
While the lifting of the crude oil ban received the lion’s share of the attention in the budget compromise, the bill also renews the federal production tax credit, or PTC, that benefits the growth of wind farms and the investment tax credit, or ITC, that discounts the expansion of solar power. The tax credits were expiring, but still would have funded pending projects through 2016.
Texas accounted for more than one-third of the new wind and natural gas-fired power added to the nation’s electric grid this year through September.
Since May, the grid has added nearly 3,000 megawatts of power capacity — about two-thirds from new wind farms.
The Roserock solar farm will provide power to the city of Austin and surrounding areas through a 20-year power purchase agreement with the municipally owned Austin Energy.
Over the next quarter century, the 240 million people without electricity in India will likely become the biggest force behind global energy demand, the International Energy Agency says in a new report.