Dear Governor Abbott, Lieutenant Governor Patrick and Speaker Phelan,
I am writing on behalf of the American Council on Renewable Energy (ACORE), whose member companies have invested tens of billions of dollars in energy infrastructure in Texas, including both renewable and thermal resources, largely due to the state’s business friendly environment. The Texas legislature is currently considering multiple pieces of legislation that, if implemented, would create additional costs and other impediments to the development of the energy infrastructure.
We share the state’s goal of ensuring a safe and reliable electric grid, but such legislation would not serve that end and would disrupt the trust that investors have placed in Texas, discouraging further investment in the state. The resulting decrease in investment would lead to higher electricity prices, lower property values, the loss of good-paying jobs, and diminished tax revenues for local communities that rely on funds from the renewable industry to support schools and other essential projects.