by the numbers

Report: Texas shines as top state for new solar, battery capacity

Texas will make up 35 percent of new utility-scale solar capacity in the U.S. this year. Photo via Getty Images

On a state-by-state basis, Texas will account for the biggest share of new utility-scale solar capacity and new battery storage capacity in 2024, a new federal report predicts.

The report, published by the U.S. Energy Information Administration (EIA), says Texas will make up 35 percent of new utility-scale solar capacity in the U.S. this year, followed by California (10 percent) and Florida (six percent).

In 2024, EIA expects a record-setting addition of 36.4 gigawatts of utility-scale solar capacity across the U.S., nearly double last year’s record-setting addition of 18.4 gigawatts. One gigawatt of electric-generating capacity can power an average of 750,000 homes.

“As the effects of supply chain challenges and trade restrictions ease, solar continues to outpace capacity additions from other generating resources,” the report states.

Meanwhile, a new report from the Environment Texas Research & Policy Center and the Frontier Group found that Texas ranks third in the U.S. for residential solar power generation. Residential solar power generation in Texas grew 646 percent from 2017 through 2022, according to the report.

A February 2023 poll conducted by the University of Houston indicated that nearly two-thirds (64 percent) of Texas homeowners are somewhat or very interested in buying a solar energy system.

“Texas is already soaking up the benefits of rooftop solar,” says Luke Metzger, executive director of the Environment Texas center. “With federal tax credits in place to boost solar adoption in Texas, now is the time to lean in. Every sunny roof without solar panels is a missed opportunity.”

In addition to a spike in utility-scale solar, the EIA report forecasts Texas will lead the way this year in the addition of battery storage capacity, with the expected addition of 6.4 gigawatts. In second place is California, with an expected 5.2 gigawatts of new battery storage capacity. The two states will make up 82 percent of new U.S. battery storage capacity in 2024, says the report.

The federal agency predicts 14.3 gigawatts of U.S. battery storage capacity will be tacked on this year to the existing 15.5 gigawatts.

Overall, EIA anticipates solar will make up 58 percent of all new utility-scale electric-generating capacity this year in the U.S., followed by battery storage at 23 percent.

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A View From HETI

Houston is tied with Chicago for the second-most Fortune 500 headquarters. Photo via Getty Images

Houston is a giant among U.S. hubs for corporate headquarters.

The 2026 Fortune 500 lists 27 companies based in the Houston area, with many energy companies claiming top spots. Houston ties with Chicago for the second-most Fortune 500 headquarters, preceded only by New York City (53). Dallas-Fort Worth is home to 23 Fortune 500 headquarters.

Texas leads the nation for Fortune 500 headquarters (57), with California in the No. 2 spot and New York at No. 3.

“Texas is the undisputed headquarters of headquarters,” Gov. Greg Abbott said in a news release. “The world’s leading businesses invest with confidence in Texas because of our welcoming business climate, predictable regulatory environment, and skilled and growing workforce. People and businesses are choosing Texas because Texas works.”

The 2026 Fortune 500 ranks the largest U.S. corporations based on revenue in fiscal year 2025.

Here’s a rundown of the 27 Fortune 500 companies based in the Houston area.

  • No. 9 ExxonMobil
  • No. 21 Chevron
  • No. 29 Phillips 66
  • No.55 Sysco
  • No. 75 ConocoPhillips
  • No. 89 Enterprise Products Partners
  • No. 103 Plains GP Holdings
  • No. 133 Hewlett Packard Enterprise
  • No. 149 NRG Energy
  • No. 157 Quanta Services
  • No. 164 Baker Hughes
  • No. 173 Occidental Petroleum
  • No. 179 Waste Management
  • No. 201 EOG Resources
  • No. 204 Group 1 Automotive
  • No. 207 Halliburton
  • No. 223 Cheniere Energy
  • No. 236 Corebridge Financial
  • No. 262 Targa Resources
  • No. 266 Kinder Morgan
  • No. 388 Westlake
  • No. 435 CenterPoint Energy
  • No. 438 APA
  • No. 440 Comfort Systems USA
  • No. 455 NOV
  • No. 488 KBR
  • No. 496 Coterra Energy. Oklahoma City, Oklahoma-based Devon Energy and Houston-based Coterra Energy merged in early May, with the combined company retaining the Devon Energy name and the Houston headquarters.

The Greater Houston Partnership notes the Houston area soon will welcome its 28th Fortune 500 company. Expand Energy (formerly Chesapeake Energy), appearing at No. 362 on the 2026 list, says it’s moving its headquarters from Oklahoma City to Spring this year.

As the natural gas producer prepares to relocate to Texas, it’s hunting for a new leader. Nick Dell’Osso stepped down as president and CEO earlier this year. Board Chairman Michael Wichterich is interim president and CEO.

Dell’Osso became president and CEO of Oklahoma City-based Gulfport Energy effective May 28.

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