Texas voters will choose whether the state should get into the business of lending money to the developers of natural gas plants this election. Proposition 7...
The amendment to the Texas Constitution would create a $7.2 billion fund doling out 3% interest loans to natural gas power plant developers.
“Texas’ homes and businesses need reliable electricity to keep the lights on and keep our economy moving,” Schwertner said in a statement provided to. “Proposition 7 will help create new and robust energy infrastructure, leading to a larger supply of electricity whenever Texans need it.” “Just offering cheaper money doesn’t solve what might be the bigger picture problem of power generation and how to handle generation growth in Texas,” said Sandie Haverlah, president of consumer advocacy group Texas Consumer Association.The total price tag for Proposition 7 is about $10 billion in taxpayer money. About $1 billion will be dedicated to grants to improve power infrastructure outside of the ERCOT power grid.
Solar energy provides plentiful power generation while the sun is up. Wind energy generation tends to peak at night. While the two sources of renewable energy complement each other, the waning amount of solar energy at sunset comes typically two to three hours before wind energy picks up the slack.In the winter, the worry is in the morning hours, when power demand starts spiking as people and businesses start their days.
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