by the numbers

New report reveals EV adoption in Texas remains low

In the latest installment of the Texas Trends survey, only 5.1 percent of Texans currently drive an electric-powered car, truck, or SUV. Photo via Getty Images

Interest in electric vehicles remains low in Texas, according to a recent report by University of Houston and Texas Southern University.

In the latest installment of the Texas Trends survey, only 5.1 percent of Texans currently drive an electric-powered car, truck, or SUV. Nearly 60 percent said they were not too likely or not at all likely to consider leasing or purchasing an electric vehicle in the future.

Respondents said that the largest factor in not opting for an EV was scarcity of charging stations. Other holdbacks included higher purchase prices, and not being able to charge an EV at home.

Acceptance of EVs did vary by respondents’ ethnicity, income, political affiliation and age:

-Asian-American respondents expressed the most interest (57 percent of respondents) in someday purchasing or leasing an EV.

-Those in the highest earning bracket voiced the highest interest in owning or leasing an EV one day. About 40% of those with an annual family income exceeding $80,000 said they'd consider an EV

-About 70% of Republicans and more than 60% of independents said they were not likely to ever buy or lease an EV

The researchers also posed an analysis to test if respondents would be more willing to purchase or lease an EV with lower purchasing prices, lower operating costs and decreased charging times. The factor that seemed to sway respondents most was length/duration of driving range on a single charge.

"If driving distances were longer on an EV’s single charge than with a full tank in a gas-powered vehicle–along with hypothetical situations lowered purchase prices, lowered operating costs and decreased charging times–respondents indicated they would go electric," according to a release from UH.

The EV portion of the report is the latest installment in the Texas Trends survey, a five-year project to study the state’s changing population and opinions, which was launched in 2021.

Other portions of the study focused on state propositions, school vouchers, primary elections, the summer heat wave and climate change.

The survey was conducted between Oct. 6 and Oct. 18 in English and Spanish for 1,914 respondents.

According to the report, 51 percent of Texans believe climate change significantly impacts extreme weather events. About 47 percent of those who acknowledge the impact of climate change on weather are likely to consider buying an electric vehicle.

About three-quarters (75.8 percent) of Texans describe the summer of 2023 as hotter than previous summers.

Meanwhile, the City of Houston has been working to accelerate EV adoption in the area.

Evolve Houston, founded through Houston's Climate Action Plan, awarded its inaugural eMobility Microgrant Initiative this summer to 13 groups, neighborhoods and an individual working to make electric vehicles accessible to all Houstonians.

The city also 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. Click here to read more.

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A View From HETI

fresh funding

Fervo Energy closes $462M series E

Fervo Energy has closed its latest oversubscribed fundraising round. Photo via Fervo Energy

Houston-based geothermal energy company Fervo Energy has closed an oversubscribed $462 million series E funding round, led by new investor B Capital.

“Fervo is setting the pace for the next era of clean, affordable, and reliable power in the U.S.,” Jeff Johnson, general partner at B Capital, said in a news release. “With surging demand from AI and electrification, the grid urgently needs scalable, always-on solutions, and we believe enhanced geothermal energy is uniquely positioned to deliver. We’re proud to support a team with the technical leadership, commercial traction, and leading execution capabilities to bring the world’s largest next-generation geothermal project online and make 24/7 carbon-free power a reality.”

The financing reflects “strong market confidence in Fervo’s opportunity to make geothermal energy a cornerstone of the 24/7 carbon-free power future,” according to the company. The round also included participation from Google, a longtime Fervo Partner, and other new and returning investors like Devon Energy, Mitsui & Co., Ltd., Mitsubishi Heavy Industries and Centaurus Capital. Centaurus Capital also recently committed $75 million in preferred equity to support the construction of Cape Station Phase I, Fervo noted in the release.

The latest funding will support the continued buildout of Fervo’s Utah-based Cape Station development, which is slated to start delivering 100 MW of clean power to the grid beginning in 2026. Cape Station is expected to be the world's largest next-generation geothermal development, according to Fervo. The development of several other projects will also be included in the new round of funding.

“This funding sharpens our path from breakthrough technology to large-scale deployment at Cape Station and beyond,” Tim Latimer, CEO and co-founder of Fervo, added in the news release. “We’re building the clean, firm power fleet the next decade requires, and we’re doing it now.”

Fervo recently won Scaleup of the Year at the 2025 Houston Innovation Awards, and previously raised $205.6 million in capital to help finance the Cape Station earlier this year. The company fully contracted the project's capacity with the addition of a major power purchase agreement from Shell this spring. Fervo’s valuation has been estimated at $1.4 billion and includes investments and support from Bill Gates.

“This new investment makes one thing clear: the time for geothermal is now,” Latimer added in a LinkedIn post. “The world desperately needs new power sources, and with geothermal, that power is clean and reliable. We are ready to meet the moment, and thrilled to have so many great partners on board.”

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