WHAT WIND CAN DO FOR TEXAS

Texas Study Finds Substantial Economic Benefits and Consumer Savings from Wind Power and CREZ Transmission Plan
Dr. Ray Perryman, May 20, 2010 (The Perryman Group)

"The typical Texas residential consumer is expected to potentially save $160 to $355 annually in electricity bills, once new transmission lines are completed to deliver wind power throughout the state, according to a study released today from The Perryman Group. Investment in new wind turbines and the Competitive Renewable Energy Zone (CREZ) transmission lines will help power the State of Texas...

"In addition, the combined investment in new wind turbines and these transmission lines will create $30 billion in economic gains, employ thousands and bring in almost $2 billion in additional state and local taxes. Also, Texas’ CREZ investment is expected to help the state annually conserve approximately 17 billion gallons of water, reduce carbon dioxide emissions by as much as 16 percent and reduce nitrogen oxide emissions by up to 13 percent."

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"Several Texas university economists endorsed the methodology and results of the study, which measures the likely economic impact of the CREZ transmission investment, as well as the anticipated doubling of available wind power available to Texas customers by 2013.

"Because wind turbines do not pay for fuel, their cost of operation does not increase the more they are used. So, as more wind power becomes available on the market, it has a greater influence on wholesale market prices...[lowering the] overall cost of electricity...[Reductions] for residential, commercial and industrial customers...exceed the long-term cost of the CREZ investments. This effect already has been seen in the West Texas wholesale market for electricity…"

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"...[There will also be] sizable positive economic impacts [from]...Construction and development of the new transmission infrastructure and the wind turbines required to achieve the newly expanded capacity...Ongoing maintenance of the transmission facilities and wind turbines, royalty payments to landowners, and cost savings stemming from improved fuel diversity...[and]Potential economic development benefits associated with solidifying Texas’ position at the forefront of renewable energy.

"Currently, Texas is home to almost one-third of the nation’s wind generation capacity. Within three years, the completed CREZ transmission facilities will make available more than 18,000 MW, stimulating economic development and delivering clean energy to Texans throughout the state…"