Renewables Are A Bright Spot In Texas’ Tumultuous Energy Market

While thousands of layoffs are expected in the oil-and-gas sector, wind and solar power are growing markets.

By Alexandra HartDecember 23, 2019 11:31 am,

2019 was a tumultuous year for the Texas energy industry. At the end of it all, another oil downturn seems likely, especially given that a survey from the Federal Reserve Bank of Dallas estimates about 8,100 oil-and-gas-sector jobs might soon disappear.

But it’s not all bad news, especially for the renewable energy market. Energy insider Matt Smith of ClipperData says Texas now produces 20% of all wind and solar power produced in the United States.

“If Texas were a country … it would actually rank as fifth in the world,” Smith says. “There’s only China, Germany and India that is actually producing more wind power.”

Solar energy and energy storage are also growing sectors in Texas.

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Written by Caroline Covington.