Texas lands in top 10 states expected to be most financially affected by weather events

new report

Texas is expensive when it comes to weather events, a new report finds. Photo via Getty Images

Texas — home to everything from tornadoes to hurricanes — cracks the top 10 of a new report ranking states based on impact from weather-related events.

SmartAsset's new report factored in a myriad of data from the Federal Emergency Management Agency to identify which states face the most financial risk due to various weather events. In the report, the states were ranked by the total expected annual financial losses per person. Texas ranked at No. 10.

"With a variety of environmental events affecting the wide stretch of the United States, each state is subject to its own risks," reads the report. "Particularly, tornadoes, wildfires, hurricanes, flooding, landslides, lightning and drought, among other events, can cause damage to buildings, agriculture and individuals alike. When considering insurance, residents and business owners in each state should account for historic and projected losses due to environmental events in their financial plans."

In Texas, the total expected annual loss per person is estimated as $283.15. The report broke down each weather event as follows:

Coastal flooding: $1.49
Drought: $3.48
Earthquake: $1.71
Heat wave: $8.16
Hurricane: $89.22
Riverine flooding: $66.05
Strong wind: $5.37
Tornado: $71.04
Wildfire: $8.26
Winter weather: $1.96

Louisiana ranked as No. 1 on the list with $555.55 per person. The state with the lowest expected loss per person from weather events was Ohio with only $63.89 estimated per person.

Buckle up for the 2024 Houston Auto Show this week, which will prominently feature EV tech. Photo via Houston Auto Show/Facebook

Electric vehicles to take center stage at annual Houston event

vroom, vroom

Houston Auto Show, which is a long running event for auto enthusiasts, will feature its largest electronic vehicle representation to date this year.

The event will feature an EV Pavillion and Evolve Houston’s electronic showroom at the January 24 to 28 event at NRG Center. Attendees will have the opportunity to learn about what it means to go the EV route from environmental impact, performance, cost effectiveness, and other factors.

This year, vehicles like Nissan's Ariya Platinum+ AWD, Chevrolet’s Bolt EV, Ford’s F-150 Lightning and others will be on display at the EV Pavillion. CenterPoint Energy, Reliant, and the University of Houston were part of Evolve's 2023 showroom.

A recent study from SmartAsset ranked states with the most electric vehicle chargers by looking at the closest equivalent to a trip to the gas station, in terms of “refueling” – per capita. Texas is behind other similarly-sized states.

“Houston maintains some of the lowest population density and longest commute distances of major U.S. cities, and we have an immense amount of business and goods that flow through Houston,” Casey Brown, executive director and president of EVOLVE, previously told EnergyCapital. “We see a landscape that can uniquely achieve larger financial and environmental benefits of EV technologies. One way that we share these benefits is being the Presenting Sponsor of the Houston Auto Show.”

Houston Automobile Dealers Association Executive Vice President and event organizer RoShelle Salinas has noted there has been an uptick in EV demand for these events since the first one debuted at the 2020 show.

Evolve Houston, which was founded in 2018 through Houston’s Climate Action Plan, is one of the organizations leading the way in the EV space, as the company still aims for its goal to have half of the vehicles in the city be electric by 2030. Evolve assists and funds those looking to make the transition to electric with the Grant Tracker, which aims to make it easier to find funding opportunities, and assist with current grants available to organizations and individuals that are committed to a goal of zero emissions. The tracker serves as a tool to assist with purchasing an EV and charging equipment.

The Biden administration recently announced it is awarding $623 million in grants to help build an electric vehicle charging network across the nation. Grants will fund 47 EV charging stations and related projects in 22 states and Puerto Rico, including 7,500 EV charging ports according to officials. Texas is expected to see a chunk of that funding. Last year, the city of Houston approved $281,000 funding for the expansion of free electric vehicle rideshare services in communities that are considered underserved by utilizing services like RYDE and Evolve Houston.

“Evolve Houston has been a sponsor for 2 years and their display has been a great addition to the show because it is not only educational, but there is also a chance for people to test drive vehicles,” Salinas says.

Here are three things to know in Houston energy transition news. Photo via Getty Images

Texas EV climate disappoints, a new renewable exec, and more Houston energy transition things to know

take note

Editor's note: Start your week off strong with three quick things to catch up on in Houston's energy transition: a roundup of events not to miss, a Houston energy executive to know, and more.

Needs improvement: Texas finishes low on list of EV charging stations despite increased efforts in Houston

A SmartAsset study looked at the closest EV charging stations equivalent to a trip to the gas station — factoring in each state's population. California, with its 14,500 charging stations, has five times the EV charging stations as New York (3,327), Florida (2,913) and Texas (2,472). While California ranked No. 1 on the list, Texas found itself at No. 41.

The report used EV charger and station data for each state from the U.S. Department of Energy for 2022 and 2021. Population data is for 2022 and comes from the U.S. Census Bureau 1-Year American Community Survey. Cities were also ranked by the number of fast chargers per capita. In 2022, Texas had 1,386 fast DC chargers, 2,472 EV charging stations, and a fast charger growth year over year 53.5 percent. Read more.

Incoming: Houston recycling company names new CEO

David Hudson has been named CEO of Elemental Recycling. The company, founded in 2019, is an investment of Freestone, a portfolio company of Tailwater Capital. He succeeds Tom Samuels, former CEO and board chair of the company.

"With over two decades of proven expertise in driving strategic growth and profitability across the recycling, waste management, sustainability, and decarbonization sectors, David brings a wealth of experience that makes him the ideal leader to take the reins and guide Elemental into its next phase of innovation and growth," Samuels says in a news release. "I am excited about the possibilities that lie ahead for the company under David's leadership. His proven track record and passion for driving positive change make him the perfect steward for the next chapter of Elemental's journey." Read more.

Events not to miss

Put these Houston-area energy-related events on your calendar.

The Houston Oil and Gas Executive Leadership Summit is an meeting of executives, policymakers, academics, and other professionals with a particular interest related to energy. The event is January 25 at the DoubleTree by Hilton Hotel Houston. Register.
Future of Energy Summit is Tuesday, February 6, at AC Hotel by Marriott Houston Downtown. Register.
The De Lange Conference, taking place February 9 and 10 at Rice University's Baker Institute for Public Policy, is centered around the theme “Brave New Worlds: Who Decides? Research, Risk and Responsibility” this year. Register.

California, with its 14,500 charging stations, has more EV charging stations than New York, Florida, and Texas combined. Photo via Getty Images

Texas finishes low on list of EV charging stations despite increased efforts in Houston

by the numbers

In a new report that ranked states with the most electric vehicle chargers, Texas falls behind other similarly-sized states

The SmartAsset study looked at the closest EV charging stations equivalent to a trip to the gas station — factoring in each state's population. California, with its 14,500 charging stations, has five times the EV charging stations as New York (3,327), Florida (2,913) and Texas (2,472). While California ranked No. 1 on the list, Texas found itself at No. 41.

Interest in electric vehicles ranked low in Texas according to a 2023 study by University of Houston and Texas Southern University. The Texas Trends survey revealed just 5.1 percent of Texans currently drive an electric-powered car, truck, or SUV, while 60 percent said they were not too likely or not at all likely to consider leasing or purchasing an electric vehicle in the future.

Even though in Texas, the interest in EVs may seem low, but Houston is trying to incorporate more innovation in this area. The city of Houston approved $281,000 funding for the expansion of free electric vehicle rideshare services in communities that are considered underserved by utilizing services like RYDE and Evolve Houston in December. The funding will be dispersed to RYDE in through the nonprofit Evolve Houston. Luxury rideshare company Alto, which currently operates in Inner Loop and Greater Houston, expanded its current service areas to The Woodlands and Spring, which will include an expanded fleet of EVs.

Another study showed that Texas is among the top of the pack for states with the most electric vehicle registrations, but Houston fell behind other large metros in the state for EV friendliness. The report from StorageCafe showed that Texas had the third-most EV registrations in the county in 2021 at 112,000 vehicles. California outpaced the rest of the country with 878,000 registrations for the No.1 ranking. The report found that Houston drivers registered 27,251 EVs in 2021.

In Texas only 38 percent of the state’s electricity capacity comes from clean electricity. Photo via Getty Images

Report: Texas has promising capacity for clean electricity, but still falls behind nationally

middle of the pack

In a new report that looked at states with the cleanest electricity across the country, Texas seems to have some room for improvement.

According to the report from SmartAsset, Texas has the most clean energy capacity at 56,405 megawatts, but continues to trail states with similar geographic characteristics in overall clean energy prevalence.

Texas has the largest wind capacity to help generate clean energy with over three times more than Iowa, which is the second-biggest wind power producer. Clean electricity made up 57 percent of Iowa’s total energy capacity (22,546.4 megawatts).

However, in Texas only 38 percent of the state’s electricity capacity comes from clean electricity. Texas also has the second-largest solar capacity, which means Texas has the most means, space, and potential to accommodate cleaner electricity.

Texas as a whole, ranked No. 22 on the list for states with the most clean energy. Washington was No.1 and California, comparable in geographic size to Texas, came in at No. 11. California had 44.3 percent of its energy capacity being from clean energy.

SmartAsset compiled its study by comparing the amount of geothermal, solar, wind and nuclear operations as a percentage of a state’s full electricity production capacity. States were ranked based on the percentage of clean energy sources used to generate the total net summer electricity production capacity. According to the report, the 2022 data comes from the U.S. Energy Information Administration.

Last year, home service management platform Thumbtack ranked cities based upon solar panel installations. Texas fared better here, and the Lone Star State split up four Californian cities in the top five of that report.

Houston ranks in the top five cities for green jobs, which pay on average 21 percent more than other jobs. Photo via Getty Images

Report: Houston recognized in the top 5 cities for green jobs

clean tech biz

Green jobs are generating more green — aka money — for workers in the Houston area.

Personal finance website SmartAsset recently ranked the Houston metro area as the fifth best place in the U.S. for green jobs, which pay an average of 21 percent more than other jobs. The SmartAsset study found that 2.23 percent of workers in the Houston area hold down jobs classified as “green.”

“Houston is known as being an energy hub, especially for oil. So this metro area ranking fifth may surprise some people. However, the green industry is pretty big around Houston, too,” says SmartAsset.

Topping the SmartAsset list is Dallas, followed by Denver; Newark, New Jersey; Oakland, California; and Houston.

The release of the SmartAsset study preceded a new report from the U.S. Department of Energy showing Texas added slightly more than 5,100 jobs in clean energy from 2021 to 2022. That’s a gain of 3.5 percent. Last year, Texas boasted a little over 396,000 jobs in the clean energy sector, the report says.

In the energy sector as a whole, Texas added the most jobs (nearly 51,000) of any state from 2021 to 2022, followed by California (almost 21,200), and Pennsylvania (nearly 15,200), according to the DOE report.

To determine the best places for green jobs, SmartAsset crunched data for the 50 largest U.S. metro areas that included the percentage of workers holding down green jobs, the average earnings for green jobs, and the average green worker’s earnings compared with the average worker’s earnings.

The U.S. Bureau of Labor Statistics supplies two definitions for green jobs:

Jobs in businesses that provide goods or provide services benefiting the environment or conserving natural resources.
Jobs in which workers’ duties involve making their employers’ processes more environmentally friendly.

The bureau lists these as the 10 highest-paying green jobs (followed by the median annual pay in 2021):

Biochemist or biophysicist, $102,270
Materials scientist, $100,090
Environmental engineer, $96,820
Atmospheric scientist, $94,570
Hydrologist, $84,030
Geoscientist, $83,680
Chemist, $79,430
Microbiologist, $79,260
Environmental scientist, $76,530
Conversation scientist, $63,750

Even though many green jobs in the U.S. are in renewable energy, that sector remains smaller than the traditional oil and gas industry, according to a recent report from career website LinkedIn. However, the growth of U.S. job postings in renewable energy (69 percent) surpassed the growth of job postings in the oil and gas industry (57) during the first three months of 2023 compared with the same period in 2022.

Globally, the growing demand for green-job skills is “outpacing the increase in supply, raising the prospect of an imminent green skills shortage,” the LinkedIn report says.

Among the sectors seeking workers with those skills are solar and wind power. Texas tallied almost 11,800 solar energy jobs and nearly 25,500 wind energy jobs in 2021, according to a DOE report.

Some observers believe Texas is positioned to become the world’s clean energy capital — and home to thousands more green jobs — with Houston poised to lead the way.

“Industry leaders believe the [Houston] region’s relatively high concentration of engineering talent, a solid base of support services for complex, large-scale offshore and onshore drilling projects, and legacy oil and gas infrastructure can be leveraged to assist in the energy transition and decarbonization,” the Federal Reserve Bank of Dallas says in a 2022 report.

Ad Placement 300x100

Ad Placement 300x600

CultureMap Emails are Awesome

Property Showcase

Houston-area company specializing in creating clean campuses announces new data center project

coming soon

A California AI infrastructure company has announced it's building a 200 megawatt data center in Texas and will work with The Woodlands-based Lancium, a decarbonization-focused energy technology company.

Crusoe Energy Systems LLC announced its plans to build the 200 MW data center at the Lancium Clean Campus outside Abilene, Texas. The two companies will work to bring the data center online in the coming months, reports Lancium in a news release. Once completed, the first phase will enable AI workloads at scale across 1.2 gigawatts of power capacity.

“Lancium’s mission to decarbonize compute for the most energy-intensive workloads and this scale and type of data center is game-changing,” Michael McNamara, co-founder and CEO of Lancium, says in the release. “Our energy management expertise, the integration of incremental storage and solar generation resources behind-the-meter at the campus, and Crusoe’s design approach will combine to deliver the maximum amount of green energy at the lowest possible cost, while bringing significant benefits to the Abilene community.”

Lancium's role will include "land acquisition, power interconnect, site engineering, renewables interconnect, and power orchestration," per the release. Crusoe will own and develop the data center, which is expected to go online in 2025.

“Data centers are rapidly evolving to support modern AI workloads, requiring new levels of high density rack space, direct-to-chip liquid cooling and unprecedented overall energy demands. We’ve designed this data center to enable the largest clusters of GPUs in the world to drive new breakthroughs in AI,” adds Chase Lochmiller, Crusoe’s co-founder and CEO. “Given its leadership in renewable energy and plans for the site, working with Lancium in Abilene presents a unique opportunity to sustainably power the future of AI and we’re thrilled to have the support of the city in this ambitious endeavor.”

According to the release, the project will feature direct-to-chip liquid cooling or rear-door heat exchangers and will be flexible enough to include air cooling. Once completed, each building within the data center will be able to operate up to 100,000 GPUs on a single integrated network fabric, according to the companies.

Lancium has raised $150 million since its founding in 2017, according to Crunchbase. Investors include Hanwha Solutions and SBI Group.

Houston clean hydrogen producer teams up with O&G for series of pilots

piling on pilots

Gold H2, a Houston-based producer of clean hydrogen, is teaming up with a major U.S.-based oil and gas company as the first step in launching a 12-month series of pilot projects.

The tentative agreement with the unnamed oil and gas company kicks off the availability of the startup’s Black 2 Gold microbial technology. The technology underpins the startup’s biotech process for converting crude oil into proprietary Gold Hydrogen.

The cleantech startup plans to sign up several oil and gas companies for the pilot program. Gold H2 says it’s been in discussions with companies in North America, Latin America, India, Eastern Europe and the Middle East.

The pilot program is aimed at demonstrating how Gold H2’s technology can transform old oil wells into hydrogen-generating assets. Gold H2, a spinout of Houston-based biotech company Cemvita, says the technology is capable of producing hydrogen that’s cheaper and cleaner than ever before.

“This business model will reshape the traditional oil and gas industry landscape by further accelerating the clean energy transition and creating new economic opportunities in areas that were previously dismissed as unviable,” Gold H2 says in a news release.

The start of the Black 2 Gold demonstrations follows the recent hiring of oil and gas industry veteran Prabhdeep Singh Sekhon as CEO.

“With the proliferation of AI, growth of data centers, and a national boom in industrial manufacturing underway, affordable … carbon-free energy is more paramount than ever,” says Rayyan Islam, co-founder and general partner at venture capital firm 8090 Industries, an investor in Gold H2. “We’re investing in Gold H2, as we know they’ll play a pivotal role in unleashing a new dawn for energy abundance in partnership with the oil industry.”

Column: Should companies pay for EV chargers for corporate fleets?

guest column

As electric vehicles continue to rise in popularity among corporate fleets, the question of how to best accommodate charging needs for fleet drivers, especially those taking their vehicles home, is becoming increasingly important.

Charging EV fleet vehicles at home can be an excellent strategy to save employees time and cut operational costs. However, many companies hesitate in their take-home EV implementation, mistakenly believing that high-cost level 2 home chargers are a necessity. This misconception can stall the transition to an efficient, cost-effective fleet charging solution.

By taking a thoughtful approach to employees’ individual situations, fleet managers can design a take-home EV program that fits their drivers’ needs and benefits the company’s bottom line in the long run. Here are some essential points to consider:

The viability of level 1 charging for low-mileage drivers

For many fleet drivers, especially those covering less than 10,000 miles annually, the standard level 1 charger that plugs into a 120v (standard) wall outlet and comes with their EV is perfectly adequate. This solution involves no additional hardware costs, mitigates issues when employees leave the company, and reduces corporate liability concerns. The primary advantage of relying on level 1 charging is its simplicity and cost-effectiveness, as it requires no extra investment in charging infrastructure. By leveraging the charging cable provided with the vehicle, companies can minimize their financial outlay while still supporting their employees' charging needs effectively.

Opting for non-networked level 2 chargers for high-mileage drivers

For higher mileage drivers with faster charging needs, a non-networked level 2 charger represents a compelling option. In this scenario, the employee pays for the unit and the installation and is then reimbursed by the company. This approach has several benefits:

Tax Rebates and Incentives. Employees may qualify for various tax writeoffs and incentives that are not available to companies, making the installation of a level 2 charger more affordable.
Ownership and Choice. Employees select and own the charging port, choose the contractor and pay for installation, which limits corporate liability and cuts costs.
Home Value Enhancement. Installing a level 2 charger can increase the value of the employee's home, providing them with an additional benefit and easy access to charging.
Accurate Reimbursement Still Possible. Modern electric vehicles record charging data, eliminating the need to get this information from a smart charger. Software like ReimburseEV can connect the dots and calculate accurate usage, costs and reimbursement.

This approach offers a cost-effective, lower-liability solution that benefits both the company and the employee, making it an attractive option for higher-mileage drivers.

The drawbacks of company-owned and networked chargers

Installing company-owned chargers, especially networked ones, is arguably the least favorable option for several reasons:

Increased costs and liability: The installation and maintenance of networked chargers significantly increases costs. Moreover, owning the charging infrastructure introduces liability concerns, especially regarding data security.
Connectivity and compatibility Issues: Networked chargers can suffer from connectivity issues, leading to inaccurate charging data and other operating and compliance problems.
Risk of fraud: Many smart chargers do not know which vehicle is plugged in. Thus, they also risk being used by non-fleet vehicles, further complicating cost and energy management.
Brand lock-in: A number of networked chargers are tied to specific OEM brands, limiting the flexibility in vehicle selection and potentially locking the company into a less dynamic fleet vehicle mix.

The drawbacks associated with company-owned and networked chargers underline the importance of evaluating charging needs carefully and opting for solutions that offer flexibility, reduce liability, and control costs.

Decision tree for fleet managers

Fleet managers should consider a decision tree approach to determine the most suitable charging solution for their needs. This decision-making process involves assessing the annual mileage of fleet drivers, access to charging, the benefits of tax incentives, and considering the long-term implications of charger ownership and ongoing liabilities. By adopting a thoughtful, structured approach to at-home charging decision-making, fleet managers can identify the most cost-effective and efficient charging solutions that align with their company's operational goals, culture, and drivers' needs.

Transitioning to an EV fleet and providing robust at-home charging solutions for your EV fleet drivers need not be a big operational bottleneck requiring huge investments in home charging infrastructure and installation costs. By understanding the specific operational demands of your EV fleet vehicles and the unique circumstances of your EV fleet drivers, companies can implement effective, efficient at-home charging solutions that save time, reduce costs, and minimize liability, all while supporting employees' transition to electric mobility.

–––

David Lewis is the founder and CEO of MoveEV, an AI-powered EV transition company that helps organizations convert fleet and employee-owned gas vehicles to electric by accurately reimbursing for charging electric vehicles at home.

View All Listings

ENERGYCAPITALHTX EMAILS ARE AWESOME