A recent testimony before a U.S. Senate committee shows how solar power and battery storage are helping keep Texas electricity prices more stable, even as demand surges.Photo via SEIA.org.

Solar power and battery storage are saving Texans hundreds of millions of dollars on their electric bills, the president and CEO of the Solar Energy Industries Association recently told a congressional committee.

Abigail Ross Hopper, the association’s president and CEO, said in testimony given to the U.S. Senate Environment and Public Works Committee that states like Texas that are adding significant capacity for solar power and battery storage are enjoying lower, more stable prices for electricity.

“Unsubsidized solar is now the cheapest source of electricity in history in much of the country,” Hopper said. “With no fuel costs, solar provides a hedge against natural gas price volatility that continues to cause electricity price spikes.”

“The only way to put downward pressure on prices is by bringing more power online, not less,” she added.

To illustrate the value of solar power and battery storage, Hopper compared two hot summer days in Texas—one in July 2022 and the other in July 2025.

Hopper explained that the Electric Reliability Council of Texas (ERCOT) had begun installing solar on its grid in 2022 but had very little battery storage. ERCOT manages 90 percent of the state’s electrical load.

When ERCOT grid conditions buckled under high demand on the highlighted day in 2022, the price of electricity spiked to nearly $1,500 per megawatt-hour, Hopper said.

“Three years later, the amount of solar had increased substantially and was complemented by energy storage,” she said.

On the specified day in 2025, under even greater demand than three years earlier, sizable amounts of solar power, battery storage and wind power kept ERCOT’s midday price of electricity low and stable—around $50 per megawatt-hour. That dollar amount represented a nearly 100 percent decrease compared with the highlighted day in 2022.

Solar and wind supplied nearly 40 percent of Texas’ power during the first nine months of 2025, according to the U.S. Energy Information Administration (EIA).

Despite the state’s expansion of solar power and battery storage capacity, residential electricity prices in ERCOT’s territory rose 30 percent from 2020 to 2025 and are expected to climb another 29 percent from 2025 to 2030, according to a forecast from the Texas Energy Poverty Research Institute.

The increase in electric bills is tied to factors such as:

  • Higher natural gas prices
  • Greater demand from AI data centers and cryptomining facilities
  • Extreme weather
  • Population growth
  • Development of new transmission and distribution lines

The strain on ERCOT’s grid is only getting worse. An EIA forecast predicts demand for ERCOT electricity will jump 9.6 percent in 2026, and ERCOT expects a 50 percent jump in demand by 2029.

Ad Placement 300x100
Ad Placement 300x600

CultureMap Emails are Awesome

Houston cleantech startup closes $17M round to tap into hot geothermal sector

fresh funding

Houston-area startup Hephae Energy Technology Corp. has closed a $17.8 million Series A financing round to commercialize its geothermal technology.

The round was co-led by Pennsylvania-based Susquehanna Sustainable Investments, which invests in early-stage climatech companies, and Copenhagen-based Underground Ventures, which focuses on geothermal energy startups. Alfa8, Baruch Future Ventures, Centaurus Capital LP, Elemental Impact, Exa Ventures, Future Ventures, Grantham Foundation for the Protection of the Environment, New System Ventures and True North Institute joined the round, along with existing Houston-based investor Nabors Industries. Hyphae reports in a news release that the Series A round brings the company's total capital raised to $24.7 million.

Hephae develops ultra-high-temperature downhole sensing, measurement, communications and control systems that can withstand the heat of geothermal sites, which are hotter and deeper than traditional oil and gas reservoirs. The company's Pandora210 system can operate at up to 400 degrees Fahrenheit.

Hephae reports that it plans to use the new funding to commercialize its Pandora210 tool and to launch research and development into systems that can withstand temperatures of up to 570 degrees Fahrenheit. Houston-based Fervo Energy, for instance, recently tapped its hottest geothermal well to date in western Utah, showing temperatures above 555 degrees Fahrenheit.

"Commercial deployment represents a major milestone in our mission to scalable, always-on, emission-free power globally, with a world-class team to tackle this problem," Steve Krase, CEO of Hephae Energy Technology, said in the release." This investment enables Hephae to transition from development to scale, delivering the ultra-high temperature drilling technologies needed to support the rapid growth of the geothermal industry in the US and international markets."

Hephae has been collaborating with Fervo Energy in the field. The company told the Houston Business JournalHouston Business Journal this spring that it expected its Pandora210 technology to be deployed at its Utah sites.

“Fervo is encouraged by the early progress of our collaboration with Hephae, whose novel high-temperature innovations have the potential to contribute positively to EGS economics, unlock higher-energy geothermal resources, and further cement the competitiveness of next-generation geothermal power," Elliot Howard, director of drilling and completions at Fervo, added in the release.

As the geothermal industry continues to scale, Hephae says it aims for its technology to help companies "unlock hotter, deeper resources that result in lower produced energy costs."

The Spring-based startup was founded in 2020 by CEO Steve Krase and CTO John Clegg. Krase previously launched Navigate Energy Services, which was acquired by Nabors in 2013. Clegg is also an industry veteran and has held numerous leadership positions at energy companies, including Weatherford, NOV, Schlumberger and others.

Houston clean energy events announce keynote speakers from Fervo, Phillips 66

where to be

Two Houston energy institutions will host their signature events this September and have named industry leaders as their keynote speakers.

The Rice Alliance Energy Tech Venture Forum and Greentown Lab's Climatetech Summit kick off Sept. 16. The events are part of Houston Energy and Climate Startup Week and Houston Energy and Climate Week.

The two-day Energy Tech Venture Forum will bring together climatech startups and professionals from around the world to hear pitches, participate in one-on-one office hours and connect with energy innovators.

Sean Maher, chief economist at Phillips 66, will open the forum with a keynote address on the macroeconomic forces shaping the energy industry. Maher also serves as vice president of investor relations at Phillips 66. He previously launched Third Gear Investments, a Houston-based energy investment firm.

Ira Ehrenpreis, founder and managing partner of DBL Partner, which manages more than $1 billion of capital and invests in companies driving social change, will present the keynote on the second day of the forum, Sept. 17. Ehrenpreis is a board member of Tesla and an investor of SpaceX. He will share insights on commercializing breakthrough technologies and what investors are looking for in today's energy innovations.

Applications for the Energy Tech Venture Forum close July 17. Register for the event here.

Fresh off a landmark IPO, Tim Latimer, co-founder and CEO of Houston-based Fervo Energy, will present the keynote at Greentown's Climatetech Summit. Latimer was recently named one of Fast Company's 2026 Visionaries of the Year.

He will be joined by Houston-based SCF Partners' David Baldwin, who will moderate the discussion. The conversation will focus on the timing of Fervo's IPO, what Latimer would have done differently at the early stages of the business, and why the company chose Houston as its headquarters.

The Climatetech Summit will bring together philanthropists, executives and innovators in the energy transition space. Greentown member startups will also present their pitches at the event. Learn more and secure tickets here.