Wind and solar energy has helped save Texas residents as much as $200 per year on their electricity bills over the past five years, according to a new study from consulting firm IdeaSmiths.
of utility-scale solar -- enough to power 3 million homes during times of peak electricity demand, according to the Electric Reliability Council of Texas, the state grid's operator.
For the IdeaSmiths study, researchers first modeled what the wholesale price would be if no renewable energy had been introduced into the system, then compared the findings to the recorded prices. Assuming that the wholesale price influences about 60 percent of the rate consumers pay, the study estimated that without renewables the average Texas resident would have spent between $189 and $200 more per year between 2018 and 2022 on the electricity use portion of the bill. The wholesale electricity price does not affect transmission and distribution costs, which make up a significant portion of utility bills.
“Renewables can provide savings, no question about it,” he said, adding that he was worried that reports like Austin-based IdeaSmiths’ might lead people to believe that renewable energy costs are much lower than they actually are. Because contract terms between companies are often private, it's hard to quantify how much renewables are actually affecting consumer bills.
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