Between August 2018 and August 2024, Texas solar capacity grew from 1.2 GW to 18.8 GW, reducing net fossil-fuel generation at any given total demand.
Wholesale electricity prices in August 2024 were consistently lower than in August 2018 for the same demand levels, thanks to increased solar output.
In Texas’s wholesale market, the marginal (most expensive) generator sets the price; reducing fossil-fuel ‘net load’ via renewables lowers that marginal price.
Analysis shows the actual demand-weighted average price in August 2024 was $39/MWh, whereas without the solar build-out it would have been $55–90/MWh.
The rapid addition of solar power cut wholesale prices by at least 40%, demonstrating renewables’ real-world cost-saving impact.
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