Why Does the Cost for Renewables Continue to Decline?
All around the nation, states are pushing for more and more renewable generation. Thanks in part to federal subsidies and tax breaks, the costs of building wind farms has dropped significantly over the years. And now, the Department of Energy (DOE) has recently released three reports on how the cost of wind generation continues to decline.
What’s the Nationwide Trend for Wind Energy?
The nation’s investment in wind energy continues to expand. The U.S. was second only to China in 2017 regarding wind farm installation with $11 billion invested into the market by the end of the year. In total, 41 states have wind energy projects supporting the 6.3 percent of the nation’s energy supply, according to the report by the DOE.
As more and more wind energy projects finish, the cost of building and running new wind farms continues to decrease. In fact, the cost of wind farm generation has decreased “33 percent from the peak in 2009-2010.” Part of the reason for higher generation is the increased output from better technological innovations. Bigger turbines with longer blades have increased generation capacity by 79 percent over those installed between 1998 and 2001. And if this trend continues, expect to see more wind farms generating clean power at lower rates for customers.
How Will the Future Growth of Wind Generation Affect Texans?
Texas leads the nation in wind power generation, and wind power’s role continues to expand. This means that the cost of renewable generation could continue to decrease in the future. It also means that the energy rates for sustainable energy plans may continue decreasing as well. Going forward, comparing green electricity plans in Texas could lead to more savings for you while reducing your carbon footprint.
It is also possible that as rates continue to decrease, energy providers will provide more options for renewable energy plans in Dallas. This will give you more great options with low rates in the ONCOR area. So keep a lookout for lowering electricity rates for green energy plans in the future, especially as the summer heat begins to cool.
How Can You Find the Best Energy Plan?
If you’re shopping for a new Dallas electric supplier, then you have the power to choose a plan with the cheapest rates. But choosing the right energy plan isn’t always easy. With so many options, it can feel downright overwhelming.
If you’re ready to shop around for a new provider and need help figuring out how to switch Texas electricity companies, then visit www.TexasElectricityRatings.com. There you’ll find information on how to compare, shop, and switch to the best energy plan with the cheapest rates for your household’s needs.