TEXAS: ONE OF 2018’S HOTTEST SOLAR PV MARKETS
24 - 25 Apr 2018
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.
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. Solar is set to ramp up in 2018.
Texas has not reached its solar potential, with the technology only providing a small amount of the State’s power supply:
According to GTM Research Solar Analyst Colin Smith; “I believe it will be a gold rush; lots of developers going looking for success but only a few players will strike big.”