Unreliable Renewable Energy Becoming an Issue for Texas
ERCOT is about to run out of electricity as the heat wave continues. Because the subsidies allow solar and wind energy companies to sell electricity below cost, there have been no new gas, coal or nuclear power plants constructed in recent years as the states population has grown. Yet, as we see below, renewable energy is not meeting the needs of the Texas consumer.
Zero Hedge
Monday's price spike also shows how renewable energy, which makes up about 25% of Texas' energy generation, had difficulty generating enough power to handle the demand surge.
Grid data from Bloomberg showed wind power generation in the region slid by 50% Monday, with most of the energy generation coming from fossil fuel power stations.
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