Texas

IEEFA Research

IEEFA U.S.: Virginia coal plant’s future isn’t bright: preparation for  transition should commence now

IEEFA U.S.: Virginia coal plant’s future isn’t bright: preparation for transition should commence now

Virginia City Hybrid Energy Center (VCHEC), one of the newest in U.S., risks closure due to market forces

December 16, 2020 (IEEFA)—Retiring the Virginia City Hybrid Energy Center (VCHEC) will bring unnecessarily abrupt economic hardship to Wise County if state and local officials do not begin to plan now for a transition, concludes a report published today by the Institute for Energy Economic and Financial Analysis. The 8-year-old coal-fired power plant, owned by […]

IEEFA U.S.: How to negotiate responsible tax breaks on renewable energy deals

A guide to best practices in a sector where standards are lacking

Oct. 28, 2020 (IEEFA) — An advisory published today by the Institute for Energy Economic and Financial Analysis (IEEFA) warns that too few standards exist for renewable energy tax abatement deals, even as utility-scale solar and wind power continue to quickly gain market share across the electricity generation sector. The advisory, Negotiating Responsible Tax Breaks […]

IEEFA: What Australia can learn from Texas’ embrace of clean energy

IEEFA: What Australia can learn from Texas’ embrace of clean energy

In the home of U.S. oil and gas, private investors are pouring money into renewables

19 October 2020 (IEEFA Australia): The Australian government’s plan for a gas-fired economic recovery from COVID-19 ignores the market’s clear preference for renewables over fossil fuels. That’s the conclusion of a new note from the Institute for Energy Economics and Financial Analysis (IEEFA) that argues Australia could learn from the experience of U.S. oil and […]

IEEFA: LUMA Energy deal paves way for Puerto Rico regulators to repeat past mistakes

IEEFA: LUMA Energy deal paves way for Puerto Rico regulators to repeat past mistakes

Multiple issues in contract likely to contribute to failure of safe, reliable and resilient grid

October 12, 2020 (IEEFA) ‒ A major contract signed with the LUMA Energy consortium may prevent Puerto Rico from building a safe, reliable and resilient electrical system, according to a new report from the Institute for Energy Economics and Financial Analysis. The deal to operate the island’s grid came in the wake of a series […]

IEEFA: Acuerdo de LUMA Energy allana camino para que los reguladores de Puerto Rico repitan errores pasados

Múltiples problemas en el contrato que pueden contribuir al fracaso de una red segura, confiable y resiliente

12 de octubre de 2020 (IEEFA) – Un importante contrato firmado con el consorcio LUMA Energy puede impedir que Puerto Rico construya un sistema eléctrico seguro, confiable y resiliente,  según un nuevo informe del Instituto de Economía Energética y Análisis Financiero. El acuerdo para operar la red de la isla se produjo a raíz de […]

IEEFA U.S.: Ratepayers face risks with Project Tundra’s retrofit of aging N.D. coal-fired plant

IEEFA U.S.: Ratepayers face risks with Project Tundra’s retrofit of aging N.D. coal-fired plant

Unproven technology funded by federal tax credits unlikely to pay off

September 22, 2020 (IEEFA) — A plan to retrofit an aging coal-fired plant in North Dakota with unproven carbon capture and storage technology is likely to raise rates for customers who get electricity from the Milton R. Young Unit 2 facility, according to a new report from the Institute for Energy Economics and Financial Analysis […]

IEEFA U.S.: As oil and gas wane, Texas wind industry ascends

IEEFA U.S.: As oil and gas wane, Texas wind industry ascends

Case study Nolan County: Strengthening jobs, economic development, tax base

August 10, 2020 (IEEFA) — The wind industry in West Texas continues to create jobs, increase local tax revenues and drive economic development in an area known historically for its boom-and-bust oil cycles, concludes a report published today by the Institute for Energy Economics and Financial Analysis (IEEFA).  The report—As Oil and Gas Wane, Texas […]

IEEFA U.S.: Mothballing of Petra Nova carbon capture project shows likely fate of other coal-fired CCS initiatives

IEEFA U.S.: Mothballing of Petra Nova carbon capture project shows likely fate of other coal-fired CCS initiatives

Red flags for investors - risks for Enchant Energy’s initiative in New Mexico and Project Tundra in North Dakota

August 3, 2020 (IEEFA) — A research brief published today by the Institute for Energy Economics and Financial Analysis (IEEFA) concludes that the abrupt recent shutdown of the Petra Nova coal-fired carbon capture plant in Texas should be seen as a strong signal for investors to avoid such projects. The report—Petra Nova Mothballing Post-Mortem: Closure […]

IEEFA U.S.: Solar will push much of remaining Texas coal fleet offline

IEEFA U.S.: Solar will push much of remaining Texas coal fleet offline

Growth in utility-scale PV is rapidly changing ERCOT market

July 14, 2020 (IEEFA) — New utility-scale solar is poised to push much of the remaining coal-fired power fleet across Texas into retirement in the next few years, finds a new report by the Institute for Energy Economics and Financial Analysis (IEEFA). The report — Solar Surge Set to Drive Much of Remaining Texas Coal-Fired […]

IEEFA update: Frackers record positive free cash flow during Q1, no thanks to economics of gas industry

IEEFA update: Frackers record positive free cash flow during Q1, no thanks to economics of gas industry

Capex reductions, financial hedging offset plunging demand

June 25, 2020 (IEEFA)—Nine fracking-focused gas companies in Appalachia reported a positive free cash flow during the first quarter of 2020—but only after slashing capital expenditures and reporting significant revenues from financial hedging, according to a new study by the Institute for Energy Economics and Financial Analysis (IEEFA). The positive first quarter results, however, didn’t […]

More News and Commentary

Total takes first big step into U.S. utility-scale solar market

Renewables Now: French energy giant Total SE has signed an agreement with 174 Power Global to create a 50/50 joint venture (JV) aimed at developing 12 utility-scale solar and storage projects for 1.6 GW of combined capacity in the US. Total said Thursday that these projects have been transferred from a pipeline developed by 174 […]

January 14, 2021 Read More →

EIA: Record 15.4GW of utility-scale solar capacity to be added to U.S. grid in 2021

PV Tech: A record amount of utility-scale PV capacity is expected to be connected to the grid in the US this year, with Texas accounting for more than a quarter of solar additions, according to new data from the US Energy Information Administration (EIA). Developers and plant owners forecast 15.4GW of new utility-scale PV coming […]

January 13, 2021 Read More →

Clearway Energy begins construction of 345MW wind farm in Texas

Renewable Energy Magazine: Clearway Energy Group has commenced construction on Mesquite Sky, a 345 megawatt (MW) wind farm in Callahan County, Texas. Clearway also closed $427 million in construction debt financing, for which Mizuho Bank, Ltd. acted as the coordinating lead arranger and with Canadian Imperial Bank of Commerce (CIBC), MUFG Bank, Ltd., Santander Bank […]

January 7, 2021 Read More →

New Mexico regulators deny permit for utility gas project, cite state’s 2045 100% clean power law

S&P Global Market Intelligence ($): The New Mexico Public Regulation Commission on Dec. 16 denied a request by El Paso Electric Co. to build a 228-MW natural gas-fired plant because it will not meet the state’s 2045 net-zero goal, even though the company has already started construction on the facility. The commission’s hearing examiner, Elizabeth […]

December 18, 2020 Read More →

Xcel Energy completes construction of 522MW Sagamore wind farm in New Mexico

Albuquerque Journal: A mammoth wind farm covering 156 square miles in eastern Roosevelt County will begin generating enough electricity later this month to power up about 194,000 homes. At 522 megawatts, Xcel Energy’s Sagamore Wind Farm is by far the largest to come online in New Mexico, offering at least 40% more generating capacity than […]

December 17, 2020 Read More →
IEEFA U.S.: Virginia coal plant’s future isn’t bright: preparation for  transition should commence now
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IEEFA U.S.: Virginia coal plant’s future isn’t bright: preparation for transition should commence now

Virginia City Hybrid Energy Center (VCHEC), one of the newest in U.S., risks closure due to market forces

December 16, 2020 (IEEFA)—Retiring the Virginia City Hybrid Energy Center (VCHEC) will bring unnecessarily abrupt economic hardship to Wise County if state and local officials do not begin to plan now for a transition, concludes a report published today by the Institute for Energy Economic and Financial Analysis. The 8-year-old coal-fired power plant, owned by […]

Ørsted moves forward with 430MW solar project in Texas

Renewables Now: Ørsted SA announced on Wednesday it has taken final investment decision (FID) on a 430-MW solar photovoltaic (PV) project in Texas. The Danish energy major will install the Old 300 Solar Center, as the photovoltaic (PV) park is called, some 40 miles (64.4 km) away from Houston, in the state’s Fort Bend County. […]

December 3, 2020 Read More →

Vistra to close 648MW Coleto Creek coal plant in Texas by 2027

Victoria Advocate: The [648 megawatt] Coleto Creek Power Plant, which generates millions of dollars in tax revenues annually for Goliad County, will shut down by 2027. The Fannin coal plant, which was built in 1980, is closing due to a combination of federal environmental regulations and competition in the Texas energy market, said Brad Watson, […]

December 2, 2020 Read More →

ExxonMobil to take $20 billion writedown, cut development spending

Bloomberg: Exxon Mobil Corp. is about to incur the biggest writedown in its modern history as the giant U.S. oil and gas producer reels from this year’s collapse in energy prices. Exxon — traditionally far more reluctant to cut the book value of its business than other oil majors — on Monday disclosed it will […]

December 1, 2020 Read More →
IEEFA U.S.: Coal plants close as renewable energy construction rises

IEEFA U.S.: Coal plants close as renewable energy construction rises

Two sectors heading quickly in opposite directions

Joe Biden’s win in the U.S. presidential election has sparked thousands of words about coming changes to the electric utility sector; the reality is that the marketplace is already quickly pushing these changes. During the past three weeks, seven utilities have announced plans to close or convert almost 9,500 megawatts (MW) of coal-fired generation across […]

November 20, 2020 Read More →