Texas State - US Power Market Outlook to 2030

Texas State - US Power Market Outlook to 2030

"Texas State - US Power Market Outlook to 2030" report gives detailed information on the Texas power market and provides historical and forecast numbers for generation, capacity and consumption up to 2020. The research analyzes upcoming power projects, regulatory frameworks and infrastructure for the market. This coupled with elaborate profiles of key market participants provides a comprehensive understanding of the market's competitive scenario.

The power market of Texas is dominated by thermal power, which accounted for 86.5% or 103,549 MW of the cumulative installed capacity in 2009. Its thermal capacity is dominated by gas-fired power plants. The Government of Texas is planning to build additional thermal power plants during the forecast period 2010-2030. Texas's thermal installed capacity is expected to increase at a Compound Annual Growth Rate (CAGR) of 0.6% and is expected to reach 119,730 MW by 2030.

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Due to its large population and an energy-intensive economy, the consumption of electricity in Texas is expected to increase over the forecast period. Historically, Texas's electricity consumption increased at a CAGR of 1% during 2000-2008. Hence, the total generation also increased during the same period. The electricity consumption witnessed a sharp decline in 2009 due to a slowdown in industrial activities following the economic recession. The decrease in electricity consumption had an overall negative effect on the total electricity generation in 2009. Nonetheless, with the global economy coming out of recession, new investments are expected to spur the demand for electricity over the forecast period. Hence, an increase in electricity generation is expected over the forecast period, 2010-2030. During the forecast period 2010-2030, Texas's electricity generation is further expected to increase at a CAGR of 1.5% to reach 541,812.3 GWh by 2030.

Texas has traditionally used thermal fuel sources to generate its electricity. This has not only increased the use of its thermal fuel reserves but has also increased greenhouse gas emissions in the state. Texas is actively augmenting its capacity through clean energy sources such as wind, solar and biomass. To achieve its goal of having a higher proportion of its energy generated by renewable sources, the government has formulated numerous pieces of legislation and is actively promoting renewable energy development. The state of Texas exceeded its 2025 renewable energy target early last year as a result of strong government support and a record increase in voluntary participation in the state's renewable energy certificate program in 2009. The government is further providing various incentives and benefits to the developers of renewable power plants in order to promote clean sources of energy for future electricity generation.

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