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Texas leads the US in renewable electricity production, but Republican lawmakers want to curb that and boost fossil fuels instead.

Texas is a leader in renewables… and fossil fuels

Texas generated 136,118 gigawatt-hours from wind and utility-scale solar in 2022, according to the EIA. (Compare that to No. 2 California, with 52,927 gigawatt-hours.) Texas’ predominant renewable source was wind, and in fact, Texas produced about 26% of all US wind-powered electricity generation in 2021.

But Texas also leads the US in fossil-fuel production. Wind and solar were just 34.3% of the total from all sources. In 2021, Texas accounted for 43% of the nation’s crude oil production and 25% of its marketed natural gas production. Texas has the most crude oil refineries and the most refining capacity of any state.

Yesterday, Republican state senators Charles Schwertner and Phil King filed bills designed to restrict renewable energy in Texas and boost fossil-fuel power plant development. Specifically, they want more natural gas power plants in the state, and they have the backing of Lt. Governor Dan Patrick.

There are nine bills, and the Dallas Morning News reports that details remain scant, including costs to taxpayers. Bills of note include [via the News]:

  • Senate Bill 6 would create a 10,000-megawatt reserve of gas-fueled power plants for times of high demand as well as a low-interest loan program for the construction of new gas plants.
  • SB 7 would put in place a market construct that would steer electricity sources toward natural gas power plants and would force wind and solar power sources to either have dispatchable power on site or buy electricity to place in the market when they are not producing.
  • SB 2014 would eliminate any remaining state incentives for building renewable energy.
  • SB 2015 would prevent the development of renewable energy in Texas from outpacing natural gas by placing a cap on the amount of new renewable megawatts based on the amount of natural gas generation in the pipeline.

Electrek’s Take

They’re citing the Big Freeze in 2021 as a reason for boosting natural gas in these bills, claiming that renewables were the biggest reason for grid failure, and that’s false. Governor Greg Abbott released a statement during the extreme weather incident in 2021:

Due to the severe weather and freezing temperatures across our state, many power companies have been unable to generate power, whether it’s from coal, natural gas, or wind power.

The source of energy that was the biggest failure during the Texas Big Freeze was actually natural gas. Natural gas production, transportation, and supply were significantly impacted due to the freezing temperatures and high heating demand. As a result, some gas-fired power plants failed or were forced to shut down, leading to a shortage of electricity supply.

Wind and solar also experienced reduced output, but they didn’t fail to the extent that natural gas did. Coal-fired power plants also experienced issues, but they weren’t as significant as those experienced by natural gas.

Patrick also cited “fairness and equity” as reasons for the new bills. Fossil fuels make up the majority of Texas power sources. That purely political argument is pretty stupid, since they’re effectively potentially kneecapping a booming and necessary new industry.

The Dallas Morning News rightly warns that if the bills pass, “They would unleash market forces that have the potential to disrupt billions of dollars in upcoming renewable energy investment in Texas while placing a thumb on the scale on the side of fossil fuel.”

Texas has been successful with wind and solar due to a previously friendly regulatory system. While the Inflation Reduction Act and the momentum of renewables in the commercial sector will help, I’m not optimistic that Texas lawmakers will do the smart thing and throw out these bills. And it won’t just be Texas that suffers for it.

Read more: Here’s how rooftop solar could have prevented 2021’s Texas big freeze power outage

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Lexus cuts RZ electric SUV prices by over $10,000 with its new entry-level 2025 model

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Lexus cuts RZ electric SUV prices by over ,000 with its new entry-level 2025 model

The all-electric luxury electric SUV is getting significantly cheaper. Lexus launched a new entry-level 2025 RZ trim with starting prices over $10,000 less than last year’s model. And you get just as much driving range.

2025 Lexus RZ electric SUV prices and driving range

Lexus launched its first dedicated EV last year, the RZ electric SUV. Starting at $55,175, the 2024 Lexus RZ 300e has a range of up to 266 miles.

The 2024 RZ 450e AWD, equipped with its dual-moto DIRECT4 system, has a range of up to 196 miles. Prices start at just under $60,000. Both models are offered in Premium or Luxury packages.

Lexus is drastically lowering prices for the 2025 model year. The 2025 Lexus RZ starts at $43,975, and that includes the $1,175 delivery fee.

At under $44,000, prices for the 2025 RZ start at over $10,000 less than last year’s model. The lower price tag comes as Lexus added a new entry-level RZ 300e FWD trim to the lineup.

The 2025 Lexus RZ 300e FWD still has an EPA-estimated 266-mile range (18″ wheels), so despite the lower price, it’s no loss from last year’s model. It’s powered by a 72.8 kWh battery pack from global leader CATL.

Lexus-RZ-prices-2025
2025 Lexus RZ 450e (Source: Lexus)

Lexus modified the subframe for the FWD model, replacing the rear eAxle from the AWD model. The result is a quieter, smoother drive.

Powered by a 71.4 kWh battery, the 2025 RZ 450e AWD has an EPA-estimated driving range of up to 220 miles (18″ wheels).

2025 Lexus RZ model Starting Price* EPA-estimated Driving Range
RZ 450e AWD $48,675 220 miles
RZ 450e Premium AWD w/ 18″ Wheel $52,875 220 miles
RZ 450e Premium AWD w/ 20″ Wheel $54,115 196 miles
RZ 450e Luxury AWD $58,605 220 miles
RZ 300e FWD $43,975 266 miles
RZ 300e Premium FWD w/ 18″ Wheel $48,175 266 miles
RZ 300e Premium FWD w/ 20″ Wheel $49,415 224 miles
RZ 300e Luxury FWD $53,905 266 miles
2025 Lexus RZ electric SUV prices and range (*Includes Delivery, Processing and Handling fee of $1,175)

The 2025 Lexus RZ is available in three grades. These include the new entry-level model, in addition to the current Premium and Luxury trims.

Inside, the electric SUV has a minimalistic feel with a standard 14″ infotainment with Apple CarPlay and Android Auto support at the center.

You can also opt for the available 10″ head-up display (HUD), Mark Levinson Surround Sound System, and a host of safety features.

The flat platform provides a spacious interior with 37.52″ of rear legroom, nearly as much as the second row of a Ford Explorer (39″).

With the 2025 model arriving at dealerships soon, Lexus is offering closeout prices on 2024 models with up to $18,500 in lease cash discounts. You can use our link to find the best offers on the Lexus RZ at a dealer near you today.

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Why Jim Cramer is nervous about Best Buy, plus a bright spot in this down market

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Why Jim Cramer is nervous about Best Buy, plus a bright spot in this down market

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‘Political malpractice’ if Trump undoes climate-geared Biden projects, outgoing U.S. energy secretary says

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'Political malpractice' if Trump undoes climate-geared Biden projects, outgoing U.S. energy secretary says

U.S. Secretary of Energy Jennifer Granholm speaks to the media on day five at the UNFCCC COP29 Climate Conference on November 15, 2024 in Baku, Azerbaijan. 

Sean Gallup | Getty Images News | Getty Images

A potential decision by Donald Trump to walk back the Biden administration’s climate-geared projects would impact jobs in areas governed by the President-elect’s own party, outgoing U.S. Energy Secretary Jennifer Granholm told CNBC, urging consistency in Washington’s green transition policies.

Referencing the White House’s withdrawal from the Paris Agreement — a 2015 treaty in which nearly 200 governments made non-binding pledges to reduce greenhouse emissions — during Trump’s first mandate, Granholm said the U.S. pressed ahead with projects linked to the green transition that members of Congress wanted to undertake in their districts.

“We are now building all of these projects. We’re building batteries for electric vehicles, we’re building the vehicles, we’re building the offshore wind turbines, we’re building the solar panels. And all of those are factories. And those factories are in districts of members of Congress,” she told CNBC’s Dan Murphy on Friday at the COP29 U.N. climate conference held in Baku, Azerbaijan.

'Political malpractice' if Trump undoes Biden climate commitments: Energy Secretary Granholm

She estimated that 80% of the funding from U.S. President Joe Biden’s legacy bills — the Inflation Reduction Act and the Bipartisan Infrastructure Law — went to U.S. districts represented by Republican leadership.

“It would be political malpractice to undo those opportunities when people are just now getting hired,” she said, stressing benefits to the manufacturing sector and noting that the business community of the world’s largest economy and oil producer now wants a clear course from Washington on its climate policy.

“This isn’t about in [the Paris Agreement], out, shifting back and forth. Let’s have a consistent practice,” she said.

When asked for a response on Granholm’s comments, Karoline Leavitt, a spokeswoman for Trump’s transition team, said the president-elect will “deliver” on the promises he made on the campaign trail.

COP29 discussions are focusing on international community reaction to U.S. election, S&P Global says

International focus has now shifted on the shape of the U.S.’ future role in global climate policy, as Trump prepares to take the helm at the White House for a second mandate in January, following a sweeping victory against Democrat candidate Kamala Harris. Trump — who has yet to announce his own pick to lead the U.S. Department of Energy — put hydrocarbons at the front and center of his campaigning agenda, pledging to “end Biden’s delays in federal drilling permits and leases that are needed to unleash American oil and natural gas production.”

The U.S. Energy Information Administration (EIA) in March said that the country already “produced more crude oil than any nation at any time” for the past six years to 2023, averaging a crude oil and condensate production of 12.9 million barrels per day that year — breaking the previous U.S. and global record of 12.3 million barrels per day recorded in 2019, during Trump’s first mandate.

Yet Granholm on Friday stressed that the clean transition is also “unleashed” and will take place regardless of who is leading the White House — and that ignoring climate change risks sacrificing Washington’s position as a frontrunner in the blooming decarbonization industry.

“Why would we take a second, a backseat to an economic competitor like China?” she asked. “They have an economic strategy, they want to be number one. So if we get out of the game, we’re just going to cede that territory all over again. It’s bad strategy for the United States and for workers and for communities across the country.”

As the world braces for the possibility of a second U.S. exit from the Paris Agreement, some climate activists note that the green transition has now gained a different global momentum than during Trump’s first turn at the White House:

“There is no denying that another Trump presidency will stall national efforts to tackle the climate crisis and protect the environment, but most U.S. state, local, and private sector leaders are committed to charging ahead,” Dan Lashof, U.S. director of the World Resources Institute, said in a Nov. 6 statement.

“Donald Trump heading back to the White House won’t be a death knell to the clean energy transition that has rapidly picked up pace these last four years.”

'We have to be rational,' Saudi Arabia's climate envoy says at COP29

Granholm also identified potential support in Trump’s current entourage, which this week welcomed business tycoon Elon Musk as the president-elect’s choice to head a new Department of Government Efficiency, alongside conservative activist Vivek Ramaswamy:

“His right-hand man, Elon Musk,  is somebody who has been strongly in favor of products that … address climate change. Obviously, he’s the founder of Tesla,” Granholm pointed out.

Musk’s environmental stance has come under question over the years, shifting from telling Rolling Stone magazine that “climate change is the biggest threat that humanity faces this century, except for AI” and backing carbon taxes to holding that the world needs hydrocarbon supplies as a bridge to renewable energy.

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