Texas’s $7.2B loan program for new gas plants is sputtering. (Texas Tribune)
Only two new proposals have been approved since lawmakers created the Texas Energy Fund in 2023, totaling just 578 MW—a fraction of the 62 GW ERCOT forecasts it needs by 2030.
Developers say turbine shortages, tariffs, and thin profit margins make new gas plants too costly compared to solar and storage, which continue to dominate Texas markets.